Scotia Capital Inc. Has $43.26 Million Holdings in Thomson Reuters Co. (NYSE:TRI)

Key Points

• Scotia Capital Inc. increased its stake in Thomson Reuters Co. by 2.4%, acquiring 5,881 additional shares and bringing its total ownership to approximately 250,380 shares valued at $43.3 million.
• JPMorgan Chase & Co. and Royal Bank Of Canada raised their price targets for Thomson Reuters, with the latter increasing its target from $185 to $215 along with an upgrade to a "sector perform" rating.
• Thomson Reuters reported earnings per share of $1.12 for the last quarter, which exceeded analyst expectations of $1.05, contributing to a revenue increase of 0.8% year-over-year.

Scotia Capital Inc. grew its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,380 shares of the business services provider's stock after acquiring an additional 5,881 shares during the period. Scotia Capital Inc. owned about 0.06% of Thomson Reuters worth $43,261,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TRI. Rhumbline Advisers lifted its holdings in shares of Thomson Reuters by 1.5% during the 1st quarter. Rhumbline Advisers now owns 4,456 shares of the business services provider's stock valued at $770,000 after acquiring an additional 68 shares in the last quarter. SBI Securities Co. Ltd. grew its position in Thomson Reuters by 41.3% in the first quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock valued at $41,000 after acquiring an additional 69 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Thomson Reuters by 25.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after buying an additional 84 shares during the period. Sara Bay Financial grew its stake in shares of Thomson Reuters by 3.3% during the first quarter. Sara Bay Financial now owns 3,275 shares of the business services provider's stock valued at $560,000 after acquiring an additional 104 shares in the last quarter. Finally, Spire Wealth Management increased its position in shares of Thomson Reuters by 5.3% during the first quarter. Spire Wealth Management now owns 2,074 shares of the business services provider's stock worth $358,000 after acquiring an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on TRI. Wells Fargo & Company cut their price target on shares of Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating on the stock in a report on Thursday. JPMorgan Chase & Co. increased their price target on Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Royal Bank Of Canada lowered their price objective on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a research note on Thursday. TD Securities reiterated a "hold" rating on shares of Thomson Reuters in a research report on Tuesday, July 15th. Finally, CIBC raised their price target on shares of Thomson Reuters from $174.00 to $201.00 and gave the company an "outperformer" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $189.70.

Thomson Reuters Stock Performance

Shares of TRI traded up $1.10 during mid-day trading on Thursday, hitting $181.07. The company's stock had a trading volume of 697,760 shares, compared to its average volume of 847,720. The stock's 50-day moving average is $199.39 and its two-hundred day moving average is $184.67. The firm has a market capitalization of $81.60 billion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters Co. has a one year low of $151.60 and a one year high of $218.42.

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.