Bank of Nova Scotia Has $34.26 Million Position in Thomson Reuters Corp $TRI

Bank of Nova Scotia grew its holdings in Thomson Reuters Corp (NASDAQ:TRI) by 22.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379,564 shares of the company’s stock after acquiring an additional 69,151 shares during the quarter. Bank of Nova Scotia’s holdings in Thomson Reuters were worth $34,259,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRI. Vanguard Group Inc. grew its holdings in Thomson Reuters by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock worth $762,320,000 after purchasing an additional 85,684 shares during the period. TD Asset Management Inc grew its position in shares of Thomson Reuters by 0.7% during the 4th quarter. TD Asset Management Inc now owns 4,664,372 shares of the company’s stock worth $616,342,000 after purchasing an additional 33,418 shares in the last quarter. TLT Family Holdco ULC acquired a new stake in shares of Thomson Reuters in the second quarter valued at approximately $865,442,000. SEG Family Corp. bought a new stake in shares of Thomson Reuters in the second quarter valued at approximately $659,930,000. Finally, Morgan Stanley grew its position in Thomson Reuters by 31.2% during the fourth quarter. Morgan Stanley now owns 2,802,312 shares of the company’s stock worth $369,597,000 after buying an additional 665,743 shares in the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Stock Up 5.2%

Shares of NASDAQ TRI opened at $90.15 on Friday. The company has a market cap of $39.27 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.28 and a beta of 0.77. 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 12 month low of $76.28 and a 12 month high of $206.45. The stock has a 50-day moving average price of $86.04 and a two-hundred day moving average price of $95.30.

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

Thomson Reuters Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings cut Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. UBS Group set a $185.74 target price on Thomson Reuters and gave the stock a “buy” rating in a report on Thursday, April 23rd. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. Wells Fargo & Company set a $85.00 price objective on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Finally, Argus began coverage on shares of Thomson Reuters in a report on Wednesday, April 22nd. They set a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.92.

Thomson Reuters Profile

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.