Dixon Mitchell Investment Counsel Inc. Sells 16,809 Shares of Thomson Reuters Co. (NYSE:TRI)

Dixon Mitchell Investment Counsel Inc. lessened its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 7.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 203,735 shares of the business services provider’s stock after selling 16,809 shares during the period. Thomson Reuters comprises approximately 1.6% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 26th largest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Thomson Reuters were worth $34,790,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. TD Asset Management Inc raised its position in Thomson Reuters by 7.9% during the first quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock worth $630,534,000 after acquiring an additional 295,301 shares in the last quarter. Cibc World Market Inc. increased its stake in shares of Thomson Reuters by 26.3% during the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after purchasing an additional 276,206 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Thomson Reuters in the 2nd quarter valued at about $45,514,000. Toronto Dominion Bank lifted its stake in Thomson Reuters by 87.1% in the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock valued at $85,136,000 after purchasing an additional 235,145 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Thomson Reuters by 179.5% during the second quarter. Millennium Management LLC now owns 243,524 shares of the business services provider’s stock worth $41,033,000 after purchasing an additional 156,410 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Price Performance

NYSE:TRI opened at $168.56 on Friday. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $176.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50-day simple moving average is $168.45 and its 200 day simple moving average is $165.26. The firm has a market cap of $75.83 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 5.63 and a beta of 0.73.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. As a group, sell-side analysts predict that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a $0.146 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Thursday, August 15th. Thomson Reuters’s payout ratio is currently 41.46%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. 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 report on Friday, August 2nd. Finally, Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $164.00 to $182.00 in a report on Tuesday, August 27th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $173.45.

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.