Bank of Nova Scotia Grows Stake in Thomson Reuters Corp $TRI

Bank of Nova Scotia lifted its position in Thomson Reuters Corp (NASDAQ:TRI) by 16.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 435,265 shares of the company’s stock after purchasing an additional 61,597 shares during the quarter. Bank of Nova Scotia owned about 0.10% of Thomson Reuters worth $67,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRI. Brighton Jones LLC purchased a new position in Thomson Reuters during the fourth quarter worth about $448,000. AQR Capital Management LLC raised its holdings in shares of Thomson Reuters by 30.3% in the 1st quarter. AQR Capital Management LLC now owns 17,152 shares of the company’s stock valued at $2,964,000 after acquiring an additional 3,988 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Thomson Reuters during the 1st quarter valued at about $205,000. SBI Securities Co. Ltd. boosted its position in shares of Thomson Reuters by 30.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 309 shares of the company’s stock valued at $62,000 after acquiring an additional 73 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Thomson Reuters by 3.4% during the second quarter. PNC Financial Services Group Inc. now owns 10,934 shares of the company’s stock worth $2,199,000 after purchasing an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

NASDAQ:TRI opened at $96.34 on Monday. The company has a market capitalization of $42.87 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 1.44 and a beta of 0.81. The business has a 50 day moving average of $106.39 and a 200 day moving average of $133.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.64 and a quick ratio of 0.64. Thomson Reuters Corp has a 1-year low of $79.71 and a 1-year high of $218.42.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings results on Thursday, February 5th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Thomson Reuters had a net margin of 20.09% and a return on equity of 14.51%.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a $0.655 dividend. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.7%. Thomson Reuters’s dividend payout ratio is currently 78.68%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TRI. Morgan Stanley set a $116.00 price objective on shares of Thomson Reuters in a research report on Friday, February 6th. BMO Capital Markets set a $165.00 price target on shares of Thomson Reuters in a research note on Friday, February 6th. Canadian Imperial Bank of Commerce set a $183.00 price target on shares of Thomson Reuters and gave the stock an “outperformer” rating in a report on Friday, January 16th. Scotiabank restated an “outperform” rating and set a $156.00 price objective (down from $189.00) on shares of Thomson Reuters in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thomson Reuters in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.42.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.