Bank of Nova Scotia Trust Co. Sells 5,953 Shares of Thomson Reuters Co. (NYSE:TRI)

Bank of Nova Scotia Trust Co. decreased its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,547 shares of the business services provider’s stock after selling 5,953 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in Thomson Reuters were worth $10,512,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in shares of Thomson Reuters during the 4th quarter worth approximately $26,000. Curio Wealth LLC acquired a new position in Thomson Reuters during the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new stake in Thomson Reuters during the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new stake in Thomson Reuters in the fourth quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Thomson Reuters by 60.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $181.95 on Friday. Thomson Reuters Co. has a 52 week low of $149.50 and a 52 week high of $184.11. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The stock has a fifty day moving average of $173.62 and a 200-day moving average of $168.15. The stock has a market capitalization of $81.90 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. On average, sell-side analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were paid a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, February 20th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s payout ratio is presently 48.67%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TRI. Wells Fargo & Company raised their target price on shares of Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. StockNews.com upgraded Thomson Reuters from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group lifted their price objective on shares of Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Bank of America began coverage on shares of Thomson Reuters in a research report on Thursday, April 10th. They issued a “neutral” rating and a $180.00 price objective on the stock. Finally, Canaccord Genuity Group upped their price target on shares of Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.80.

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.