Bank of Nova Scotia lifted its position in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 23.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 734,062 shares of the business services provider’s stock after acquiring an additional 141,374 shares during the period. Bank of Nova Scotia owned approximately 0.10% of Thomson Reuters worth $29,351,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank raised its position in shares of Thomson Reuters by 80.1% in the 2nd quarter. Toronto Dominion Bank now owns 1,845,888 shares of the business services provider’s stock valued at $74,758,000 after acquiring an additional 821,146 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Thomson Reuters by 210.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,742,479 shares of the business services provider’s stock valued at $352,496,000 after acquiring an additional 5,923,592 shares during the period. Commonwealth Bank of Australia raised its position in shares of Thomson Reuters by 28.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 102,187 shares of the business services provider’s stock valued at $4,080,000 after acquiring an additional 22,684 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $797,000. Finally, Intact Investment Management Inc. raised its position in shares of Thomson Reuters by 27.4% in the 2nd quarter. Intact Investment Management Inc. now owns 1,085,948 shares of the business services provider’s stock valued at $57,588,000 after acquiring an additional 233,700 shares during the period. Institutional investors and hedge funds own 22.61% of the company’s stock.
Shares of TRI stock opened at $45.51 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.31 and a current ratio of 2.31. The company has a market cap of $31.77 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 12.81 and a beta of 0.68. Thomson Reuters Corp has a 52 week low of $36.52 and a 52 week high of $48.61.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Wednesday, August 8th. The business services provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.11 by $0.06. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. Thomson Reuters had a net margin of 14.15% and a return on equity of 9.17%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. analysts forecast that Thomson Reuters Corp will post 0.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Thursday, August 16th were issued a $0.345 dividend. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.03%. Thomson Reuters’s dividend payout ratio (DPR) is presently 54.98%.
A number of analysts recently weighed in on TRI shares. Zacks Investment Research upgraded shares of Thomson Reuters from a “strong sell” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Sunday, July 15th. Morgan Stanley upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a report on Thursday, September 13th. Canaccord Genuity restated a “buy” rating and set a $50.00 target price on shares of Thomson Reuters in a report on Wednesday, September 5th. Royal Bank of Canada raised their target price on shares of Thomson Reuters from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Finally, Piper Jaffray Companies raised their target price on shares of Thomson Reuters to $45.00 and gave the stock a “neutral” rating in a report on Thursday, June 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Thomson Reuters presently has a consensus rating of “Hold” and a consensus target price of $46.00.
About Thomson Reuters
Thomson Reuters Corporation provides news and information for professional markets worldwide. The company operates through three segments: Financial & Risk, Legal, and Tax & Accounting. It sells electronic content and services to professionals primarily on a subscription basis. The Financial & Risk segment offers critical news, information, and analytics enabling transactions and connecting communities of trading, investment, financial, and corporate professionals.
Further Reading: Exchange-Traded Funds (ETFs)
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