Thomson Reuters Co. $TRI Stake Lessened by Bank of Nova Scotia

Bank of Nova Scotia lessened its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 21.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,668 shares of the business services provider’s stock after selling 103,964 shares during the period. Bank of Nova Scotia owned about 0.08% of Thomson Reuters worth $75,120,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TRI. Curio Wealth LLC lifted its stake in Thomson Reuters by 16,200.0% in the 2nd quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Westside Investment Management Inc. acquired a new position in shares of Thomson Reuters in the 2nd quarter valued at about $34,000. Ameritas Advisory Services LLC acquired a new position in shares of Thomson Reuters in the 2nd quarter valued at about $37,000. AlphaCore Capital LLC purchased a new stake in shares of Thomson Reuters in the second quarter worth approximately $39,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Thomson Reuters by 30.9% during the second quarter. SBI Securities Co. Ltd. now owns 309 shares of the business services provider’s stock worth $62,000 after purchasing an additional 73 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on TRI. TD Securities upgraded shares of Thomson Reuters from a “hold” rating to a “buy” rating and upped their price objective for the company from $275.00 to $285.00 in a research note on Thursday, August 28th. Canaccord Genuity Group set a $174.00 price target on shares of Thomson Reuters and gave the company a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. dropped their price target on shares of Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Royal Bank Of Canada cut their price objective on Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. Finally, Morgan Stanley set a $172.00 target price on Thomson Reuters in a research note on Tuesday, November 4th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.27.

Thomson Reuters Stock Performance

Shares of NYSE TRI opened at $133.42 on Monday. The business’s 50-day simple moving average is $146.60 and its 200-day simple moving average is $173.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters Co. has a 52 week low of $131.11 and a 52 week high of $218.42. The firm has a market cap of $59.35 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 5.67 and a beta of 0.79.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $0.595 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $2.38 dividend on an annualized basis and a yield of 1.8%. Thomson Reuters’s dividend payout ratio (DPR) is presently 61.18%.

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.