Dixon Mitchell Investment Counsel Inc. Has $34.79 Million Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Dixon Mitchell Investment Counsel Inc. decreased its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,735 shares of the business services provider’s stock after selling 16,809 shares during the period. Thomson Reuters comprises about 1.6% of Dixon Mitchell Investment Counsel Inc.’s holdings, 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in TRI. Rothschild Investment LLC bought a new stake in Thomson Reuters during the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. Asset Dedication LLC increased its stake in shares of Thomson Reuters by 125.0% in the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after buying an additional 130 shares during the period. Clean Yield Group bought a new position in Thomson Reuters in the 3rd quarter valued at approximately $42,000. Finally, Exchange Traded Concepts LLC boosted its position in Thomson Reuters by 104.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock worth $56,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Trading Up 0.1 %

Shares of TRI stock opened at $168.56 on Friday. The company has a market cap of $75.83 billion, a P/E ratio of 32.35, a PEG ratio of 5.63 and a beta of 0.73. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03. The stock has a 50 day simple moving average of $168.45 and a two-hundred day simple moving average of $165.26. 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 (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. Thomson Reuters’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. Research analysts forecast that Thomson Reuters Co. will post 3.71 earnings per share for the current year.

Thomson Reuters Cuts Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on TRI. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. raised their target price on 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 reduced their price target on 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 upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Thomson Reuters has a consensus rating of “Hold” and a consensus target price 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.