National Bank of Canada FI Has $68.25 Million Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

National Bank of Canada FI reduced its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 6.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 474,824 shares of the business services provider’s stock after selling 30,070 shares during the period. National Bank of Canada FI owned 0.10% of Thomson Reuters worth $68,245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRI. Mackenzie Financial Corp raised its holdings in Thomson Reuters by 17.3% during the 3rd quarter. Mackenzie Financial Corp now owns 6,240,651 shares of the business services provider’s stock worth $755,514,000 after purchasing an additional 919,603 shares during the last quarter. FMR LLC raised its stake in shares of Thomson Reuters by 26.3% during the third quarter. FMR LLC now owns 5,657,244 shares of the business services provider’s stock worth $692,059,000 after buying an additional 1,179,155 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Thomson Reuters by 6.2% in the third quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock valued at $500,872,000 after buying an additional 240,148 shares during the period. Bank of Nova Scotia bought a new stake in shares of Thomson Reuters during the 3rd quarter valued at $170,036,000. Finally, Toronto Dominion Bank raised its position in shares of Thomson Reuters by 361.6% during the 3rd quarter. Toronto Dominion Bank now owns 1,142,194 shares of the business services provider’s stock valued at $139,713,000 after acquiring an additional 894,776 shares during the last quarter. Institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of analyst reports. UBS Group lifted their price objective on Thomson Reuters from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity Group increased their price target on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research report on Friday. Scotiabank boosted their price objective on shares of Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a report on Friday. Barclays upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $150.00 to $180.00 in a report on Thursday, March 14th. Finally, Canaccord Genuity Group upped their price objective on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research report on Friday. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $164.31.

Thomson Reuters Stock Up 1.1 %

Shares of TRI traded up $1.78 during mid-day trading on Friday, hitting $164.74. 619,405 shares of the company’s stock were exchanged, compared to its average volume of 362,043. The company has a 50-day simple moving average of $155.38 and a 200 day simple moving average of $146.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $74.35 billion, a PE ratio of 31.38, a P/E/G ratio of 4.29 and a beta of 0.65. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $166.11.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.43%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. On average, research analysts forecast that Thomson Reuters Co. will post 3.58 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.16 dividend on an annualized basis and a yield of 1.31%. Thomson Reuters’s dividend payout ratio is 41.33%.

Thomson Reuters Company 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.