Thomson Reuters Corp $TRI Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia increased its position in shares of Thomson Reuters Corp (NASDAQ:TRI) by 22.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 379,564 shares of the company’s stock after buying an additional 69,151 shares during the quarter. Bank of Nova Scotia owned about 0.09% of Thomson Reuters worth $34,259,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Gibbs Wealth Management acquired a new stake in shares of Thomson Reuters during the 1st quarter worth about $349,000. Alpha Family Trust purchased a new position in shares of Thomson Reuters during the first quarter valued at approximately $257,000. First Trust Advisors LP lifted its stake in shares of Thomson Reuters by 33.3% during the first quarter. First Trust Advisors LP now owns 1,588,756 shares of the company’s stock valued at $142,956,000 after buying an additional 397,150 shares during the period. PNC Financial Services Group Inc. boosted its position in Thomson Reuters by 1.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,834 shares of the company’s stock worth $885,000 after acquiring an additional 130 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS acquired a new position in Thomson Reuters in the first quarter valued at $99,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TRI shares. Scotiabank set a $138.00 price target on Thomson Reuters and gave the company a “sector outperform” rating in a research report on Wednesday, May 6th. TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. Bank of America dropped their price target on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 19th. Barclays restated an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Finally, UBS Group set a $185.74 price target on Thomson Reuters and gave the stock a “buy” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.92.

Thomson Reuters Price Performance

TRI stock opened at $90.15 on Friday. The firm has a market capitalization of $39.27 billion, a PE ratio of 26.23, a P/E/G ratio of 1.28 and a beta of 0.77. The firm has a 50-day moving average of $86.04 and a two-hundred day moving average of $95.30. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.11. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $206.45.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the business posted $1.12 earnings per share. Thomson Reuters’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts forecast that Thomson Reuters Corp will post 4.44 earnings per share for the current year.

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is currently 76.16%.

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.