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

Bank of Nova Scotia Trust Co. lowered its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 8.3% in the 4th quarter, Holdings Channel.com reports. The fund 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 also recently modified their holdings of the company. Decker Retirement Planning Inc. bought a new position in Thomson Reuters during the 4th quarter worth $26,000. Curio Wealth LLC bought a new position in shares of Thomson Reuters during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Thomson Reuters in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in Thomson Reuters during the 4th quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Thomson Reuters by 60.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider’s stock worth $58,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TRI shares. CIBC lifted their target price on shares of Thomson Reuters from $165.00 to $174.00 in a research note on Friday, February 7th. Canaccord Genuity Group raised their target price on Thomson Reuters from $164.00 to $175.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. The Goldman Sachs Group raised 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. Wells Fargo & Company increased their target price on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $175.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $177.80.

Thomson Reuters Stock Up 0.9 %

Shares of NYSE:TRI opened at $181.95 on Friday. The stock has a market cap of $81.90 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 5.67 and a beta of 0.70. The business’s 50 day moving average is $173.62 and its 200 day moving average is $168.15. Thomson Reuters Co. has a 12-month low of $149.50 and a 12-month high of $184.11. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, February 6th. The business services provider reported $1.01 EPS for the quarter, beating the consensus estimate 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 forecast that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were issued a dividend of $0.595 per share. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, February 20th. Thomson Reuters’s dividend payout ratio (DPR) is 48.67%.

Thomson Reuters 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.