The Manufacturers Life Insurance Company cut its holdings in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 4.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 944,846 shares of the business services provider’s stock after selling 39,041 shares during the period. The Manufacturers Life Insurance Company owned 0.13% of Thomson Reuters Corp worth $43,667,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank acquired a new position in Thomson Reuters Corp in the second quarter valued at approximately $106,000. ETF Managers Group LLC acquired a new position in Thomson Reuters Corp in the second quarter valued at approximately $127,000. Omnia Family Wealth LLC lifted its holdings in Thomson Reuters Corp by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 10 shares during the last quarter. Beach Investment Management LLC. acquired a new position in Thomson Reuters Corp in the second quarter valued at approximately $203,000. Finally, SG Americas Securities LLC lifted its holdings in Thomson Reuters Corp by 44.0% in the second quarter. SG Americas Securities LLC now owns 4,900 shares of the business services provider’s stock valued at $227,000 after acquiring an additional 1,497 shares during the last quarter. Hedge funds and other institutional investors own 26.15% of the company’s stock.
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Thomson Reuters Corp (TRI) traded down 0.13% on Thursday, reaching $46.26. The company’s stock had a trading volume of 77,315 shares. The firm has a 50 day moving average price of $45.72 and a 200 day moving average price of $45.08. Thomson Reuters Corp has a 52 week low of $39.23 and a 52 week high of $48.57. The stock has a market capitalization of $33.64 billion, a P/E ratio of 11.19 and a beta of 0.75.
Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.09. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.78 billion. Thomson Reuters Corp had a net margin of 26.81% and a return on equity of 13.64%. Thomson Reuters Corp’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.50 EPS. On average, equities analysts anticipate that Thomson Reuters Corp will post $2.44 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 17th were issued a $0.345 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 2.98%. Thomson Reuters Corp’s dividend payout ratio (DPR) is presently 33.91%.
TRI has been the topic of a number of recent analyst reports. Zacks Investment Research cut Thomson Reuters Corp from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Royal Bank Of Canada upped their price objective on Thomson Reuters Corp from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Deutsche Bank AG upped their price objective on Thomson Reuters Corp from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. BidaskClub cut Thomson Reuters Corp from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Canaccord Genuity set a $47.00 price objective on Thomson Reuters Corp and gave the company a “hold” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $51.00.
Thomson Reuters Corp Company Profile
Thomson Reuters Corporation (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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