National Bank of Canada FI Sells 30,070 Shares of Thomson Reuters Co. (NYSE:TRI)

National Bank of Canada FI cut its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 474,824 shares of the business services provider’s stock after selling 30,070 shares during the period. National Bank of Canada FI’s holdings in Thomson Reuters were worth $68,245,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TRI. Mackenzie Financial Corp grew its position in shares of 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 buying an additional 919,603 shares during the period. FMR LLC boosted its stake in 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 acquiring an additional 1,179,155 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake 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 purchasing an additional 240,148 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Thomson Reuters during the 3rd quarter worth about $170,036,000. Finally, Toronto Dominion Bank grew its stake in shares of Thomson Reuters by 361.6% in 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 buying an additional 894,776 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Stock Performance

Shares of NYSE TRI traded up $1.78 during midday trading on Friday, reaching $164.74. The company’s stock had a trading volume of 619,405 shares, compared to its average volume of 362,043. 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 stock has a market capitalization of $74.35 billion, a P/E ratio of 31.38, a PEG ratio of 4.29 and a beta of 0.65. The firm has a 50 day moving average price of $155.38 and a 200-day moving average price of $146.67. Thomson Reuters Co. has a 12-month low of $117.46 and a 12-month high of $166.11.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Thomson Reuters had a return on equity of 15.43% and a net margin of 34.87%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, equities analysts predict that Thomson Reuters Co. will post 3.58 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The business also recently announced 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. This represents a $2.16 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, May 15th. Thomson Reuters’s payout ratio is 41.33%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Canaccord Genuity Group increased their price target on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday. CIBC boosted their price target on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on shares of Thomson Reuters from $153.00 to $156.00 and gave the company a “sector perform” rating in a report on Tuesday, April 30th. TD Securities upped their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Finally, Scotiabank lifted their price target on Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $164.31.

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.