Thomson Reuters Co. (NYSE:TRI) Position Reduced by Bank of Nova Scotia Trust Co.

Key Points

• Bank of Nova Scotia Trust Co. reduced its holdings in Thomson Reuters (NYSE:TRI) by 2.4%, now owning 63,947 shares valued at approximately $11 million.
• During the fourth quarter, several hedge funds increased their stakes in Thomson Reuters, with Geode Capital Management boosting its position by 74.3%.
• Thomson Reuters reported $1.12 EPS for the latest quarter, exceeding analysts' expectations, despite revenue slightly falling short at $1.90 billion.

Bank of Nova Scotia Trust Co. trimmed its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,947 shares of the business services provider's stock after selling 1,600 shares during the period. Thomson Reuters makes up about 1.2% of Bank of Nova Scotia Trust Co.'s portfolio, making the stock its 29th biggest position. Bank of Nova Scotia Trust Co.'s holdings in Thomson Reuters were worth $11,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Alberta Investment Management Corp raised its position in Thomson Reuters by 28.7% during the 1st quarter. Alberta Investment Management Corp now owns 439,400 shares of the business services provider's stock valued at $75,815,000 after purchasing an additional 97,929 shares in the last quarter. EFG Asset Management Americas Corp. boosted its position in Thomson Reuters by 1.7% during the 1st quarter. EFG Asset Management Americas Corp. now owns 16,990 shares of the business services provider's stock valued at $2,936,000 after acquiring an additional 288 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Thomson Reuters by 19.4% in the 1st quarter. Natixis Advisors LLC now owns 17,223 shares of the business services provider's stock worth $2,976,000 after acquiring an additional 2,796 shares in the last quarter. XTX Topco Ltd grew its stake in Thomson Reuters by 188.6% in the first quarter. XTX Topco Ltd now owns 3,786 shares of the business services provider's stock valued at $654,000 after purchasing an additional 2,474 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Thomson Reuters by 44.9% in the 1st quarter. LPL Financial LLC now owns 40,096 shares of the business services provider's stock valued at $6,928,000 after buying an additional 12,424 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Stock Performance

Shares of NYSE:TRI traded down $19.85 on Wednesday, reaching $179.97. 4,097,163 shares of the company's stock were exchanged, compared to its average volume of 846,388. The business's 50-day moving average is $199.72 and its two-hundred day moving average is $184.71. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a fifty-two week low of $151.60 and a fifty-two week high of $218.42. The firm has a market capitalization of $81.10 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 5.67 and a beta of 0.77.

Wall Street Analyst Weigh In

TRI has been the topic of a number of research analyst reports. TD Securities restated a "hold" rating on shares of Thomson Reuters in a research note on Tuesday, July 15th. Wells Fargo & Company upped their price objective on shares of Thomson Reuters from $187.00 to $213.00 and gave the company an "equal weight" rating in a report on Monday, June 16th. CIBC raised their target price on Thomson Reuters from $174.00 to $201.00 and gave the stock an "outperformer" rating in a report on Monday, July 21st. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a research report on Thursday, July 10th. Finally, Barclays raised their target price on Thomson Reuters from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $193.00.

About Thomson Reuters

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.