Bank of Nova Scotia lifted its position in Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 23.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 734,062 shares of the business services provider’s stock after buying an additional 141,374 shares during the quarter. Bank of Nova Scotia’s holdings in Thomson Reuters were worth $29,351,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TRI. Massachusetts Financial Services Co. MA grew its stake in shares of Thomson Reuters by 210.1% in the second 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 buying an additional 5,923,592 shares in the last quarter. CIBC World Markets Inc. grew its stake in shares of Thomson Reuters by 36.1% in the first quarter. CIBC World Markets Inc. now owns 3,478,599 shares of the business services provider’s stock valued at $134,448,000 after buying an additional 923,398 shares in the last quarter. Parnassus Investments CA grew its stake in shares of Thomson Reuters by 39.5% in the second quarter. Parnassus Investments CA now owns 2,937,541 shares of the business services provider’s stock valued at $118,442,000 after buying an additional 832,502 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Thomson Reuters by 80.1% in the second quarter. Toronto Dominion Bank now owns 1,845,888 shares of the business services provider’s stock valued at $74,758,000 after buying an additional 821,146 shares in the last quarter. Finally, Mawer Investment Management Ltd. grew its stake in shares of Thomson Reuters by 20.8% in the second quarter. Mawer Investment Management Ltd. now owns 3,517,788 shares of the business services provider’s stock valued at $142,070,000 after buying an additional 604,871 shares in the last quarter. 22.61% of the stock is owned by institutional investors and hedge funds.

TRI stock opened at $45.51 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.31 and a quick ratio of 2.31. Thomson Reuters Corp has a one year low of $36.52 and a one year high of $48.61. The firm 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 (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Wednesday, August 8th. The business services provider reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.06. Thomson Reuters had a net margin of 14.15% and a return on equity of 9.17%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. sell-side analysts anticipate that Thomson Reuters Corp will post 0.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Thursday, August 16th were given a dividend of $0.345 per share. The ex-dividend date was Wednesday, August 15th. This represents a $1.38 dividend on an annualized basis and a yield of 3.03%. Thomson Reuters’s dividend payout ratio (DPR) is 54.98%.

Several equities analysts recently weighed in on the stock. Morgan Stanley raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and set a $52.00 target price for the company in a research note on Thursday, September 13th. ValuEngine raised shares of Thomson Reuters from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Canaccord Genuity reissued a “buy” rating and issued a $50.00 target price on shares of Thomson Reuters in a research note 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 company an “outperform” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research raised shares of Thomson Reuters from a “strong sell” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Sunday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $46.00.

Thomson Reuters Profile

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.

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Institutional Ownership by Quarter for Thomson Reuters (NYSE:TRI)

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