Thomson Reuters Co. (NYSE:TRI) Position Boosted by National Bank of Canada FI

National Bank of Canada FI boosted its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 446,600 shares of the business services provider’s stock after buying an additional 3,802 shares during the quarter. National Bank of Canada FI owned approximately 0.10% of Thomson Reuters worth $74,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRI. Norges Bank bought a new stake in shares of Thomson Reuters in the 4th quarter valued at approximately $160,372,000. TD Asset Management Inc increased its stake in Thomson Reuters by 30.8% during the fourth quarter. TD Asset Management Inc now owns 3,752,472 shares of the business services provider’s stock valued at $551,317,000 after purchasing an additional 884,572 shares during the last quarter. FIL Ltd raised its holdings in shares of Thomson Reuters by 9.8% during the fourth quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after purchasing an additional 445,444 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Thomson Reuters by 53.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 969,443 shares of the business services provider’s stock worth $141,752,000 after purchasing an additional 338,896 shares during the period. Finally, MUFG Securities EMEA plc acquired a new position in shares of Thomson Reuters in the 2nd quarter valued at about $45,514,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Trading Down 0.9 %

NYSE:TRI opened at $167.96 on Friday. The stock has a market cap of $75.53 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 6.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $176.03. The business has a fifty day moving average of $164.86 and a 200-day moving average of $162.62.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. Thomson Reuters’s revenue was up 5.6% compared to the same quarter last year. Equities analysts predict that Thomson Reuters Co. will post 3.72 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $0.146 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.35%. Thomson Reuters’s payout ratio is 41.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TRI shares. Royal Bank of Canada dropped their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $173.45.

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.