Thomson Reuters Co. (NYSE:TRI) Stake Reduced by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. lowered its position in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,735 shares of the business services provider's stock after selling 16,809 shares during the quarter. Thomson Reuters accounts for approximately 1.6% of Dixon Mitchell Investment Counsel Inc.'s holdings, making the stock its 26th biggest holding. Dixon Mitchell Investment Counsel Inc.'s holdings in Thomson Reuters were worth $34,790,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in Thomson Reuters in the second quarter valued at $25,000. EverSource Wealth Advisors LLC increased its position in shares of Thomson Reuters by 76.9% in the 1st 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 raised its stake in shares of Thomson Reuters by 125.0% in the 3rd quarter. Asset Dedication LLC now owns 234 shares of the business services provider's stock valued at $40,000 after purchasing an additional 130 shares in the last quarter. Clean Yield Group acquired a new stake in shares of Thomson Reuters in the 3rd quarter valued at about $42,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Thomson Reuters by 104.4% during the third quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider's stock worth $56,000 after purchasing an additional 167 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada cut their price objective on Thomson Reuters from $170.00 to $168.00 and set a "sector perform" rating on the stock in a research note on Friday, August 2nd. Scotiabank raised Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $164.00 to $182.00 in a research report on Tuesday, August 27th. 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 report on Friday, August 2nd. Finally, National Bank Financial raised shares of Thomson Reuters from a "sector perform" rating to an "outperform" rating in a report on Monday, September 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Thomson Reuters currently has an average rating of "Hold" and a consensus target price of $173.45.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock traded up $0.26 during trading on Friday, hitting $168.60. 201,536 shares of the stock were exchanged, compared to its average volume of 358,738. The stock has a market cap of $75.85 billion, a PE ratio of 32.35, a P/E/G ratio of 5.63 and a beta of 0.73. The stock's fifty day moving average is $168.45 and its 200 day moving average is $165.26. Thomson Reuters Co. has a 12 month low of $117.46 and a 12 month 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.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $1.74 billion for 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 was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. As a group, sell-side analysts anticipate that Thomson Reuters Co. will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $0.146 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a dividend yield of 0.35%. Thomson Reuters's payout ratio is 41.46%.

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.