Bank of Nova Scotia Sells 103,964 Shares of Thomson Reuters Co. $TRI

Bank of Nova Scotia lowered its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 21.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 373,668 shares of the business services provider’s stock after selling 103,964 shares during the period. Bank of Nova Scotia’s holdings in Thomson Reuters were worth $75,120,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in shares of Thomson Reuters by 0.4% in the second quarter. Cerity Partners LLC now owns 42,318 shares of the business services provider’s stock valued at $8,511,000 after acquiring an additional 172 shares during the period. Jump Financial LLC acquired a new position in Thomson Reuters during the 2nd quarter valued at $3,628,000. Cary Street Partners Investment Advisory LLC bought a new stake in Thomson Reuters in the 2nd quarter valued at $206,000. Marshall Wace LLP boosted its holdings in Thomson Reuters by 30.0% in the 2nd quarter. Marshall Wace LLP now owns 342,757 shares of the business services provider’s stock valued at $68,939,000 after purchasing an additional 79,107 shares during the period. Finally, Baird Financial Group Inc. grew its position in Thomson Reuters by 741.4% in the 2nd quarter. Baird Financial Group Inc. now owns 39,548 shares of the business services provider’s stock worth $7,954,000 after purchasing an additional 34,848 shares during the last quarter. 17.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TRI. Canaccord Genuity Group set a $174.00 price objective on shares of Thomson Reuters and gave the company a “buy” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada cut their price target 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. JPMorgan Chase & Co. decreased their price objective on Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Scotiabank restated an “outperform” rating and set a $189.00 price objective (down from $200.00) on shares of Thomson Reuters in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company raised Thomson Reuters from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $187.00 to $212.00 in a research report on Tuesday, September 9th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.27.

Thomson Reuters Stock Down 0.2%

Shares of NYSE:TRI opened at $133.42 on Monday. The company’s fifty day moving average is $146.60 and its 200-day 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 company has a market capitalization of $59.35 billion, a PE 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 announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.78 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. Equities research analysts predict that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

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

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.