The Manufacturers Life Insurance Company Lowers Holdings in Thomson Reuters Co. (NYSE:TRI)

The Manufacturers Life Insurance Company cut its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 17.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,725,119 shares of the business services provider's stock after selling 367,156 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.38% of Thomson Reuters worth $294,440,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. TD Asset Management Inc raised its position in Thomson Reuters by 0.7% in the second quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider's stock valued at $686,640,000 after purchasing an additional 26,483 shares during the last quarter. Fiera Capital Corp raised its position in Thomson Reuters by 1.0% in the third quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider's stock valued at $458,559,000 after purchasing an additional 27,714 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider's stock valued at $439,665,000 after purchasing an additional 255,387 shares during the last quarter. Clearbridge Investments LLC raised its position in Thomson Reuters by 9.4% in the second quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider's stock valued at $245,893,000 after purchasing an additional 125,167 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in Thomson Reuters by 26.3% in the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider's stock valued at $223,525,000 after purchasing an additional 276,206 shares during the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on TRI. StockNews.com downgraded Thomson Reuters from a "hold" rating to a "sell" rating in a research report on Friday. National Bank Financial upgraded Thomson Reuters from a "sector perform" rating to an "outperform" rating in a research report on Monday, September 9th. Wells Fargo & Company initiated coverage on Thomson Reuters in a research report on Tuesday. They set an "equal weight" rating and a $165.00 price objective for the company. Royal Bank of Canada raised their price objective on Thomson Reuters from $171.00 to $173.00 and gave the stock a "sector perform" rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price objective on Thomson Reuters from $163.00 to $164.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Thomson Reuters currently has an average rating of "Hold" and a consensus price target of $175.20.

Thomson Reuters Trading Up 0.0 %

TRI stock traded up $0.07 during mid-day trading on Tuesday, reaching $160.79. The company's stock had a trading volume of 580,810 shares, compared to its average volume of 354,059. The company has a market cap of $72.34 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 5.45 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The business's 50 day moving average price is $166.99 and its 200 day moving average price is $167.15. Thomson Reuters Co. has a 12 month low of $138.30 and a 12 month high of $176.03.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. Thomson Reuters's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. On average, equities research analysts predict that Thomson Reuters Co. will post 3.69 EPS for the current year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a dividend of $0.54 per share. This is a boost from Thomson Reuters's previous quarterly dividend of $0.15. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Thursday, November 21st. Thomson Reuters's dividend payout ratio is presently 42.52%.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.