Dixon Mitchell Investment Counsel Inc. Has $33.78 Million Holdings in Thomson Reuters Co. (NYSE:TRI)

Dixon Mitchell Investment Counsel Inc. decreased its holdings in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 29.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,837 shares of the business services provider’s stock after selling 89,961 shares during the period. Thomson Reuters comprises 1.7% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 24th largest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Thomson Reuters were worth $33,777,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Thomson Reuters by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,698,178 shares of the business services provider’s stock valued at $833,188,000 after buying an additional 52,138 shares during the period. FIL Ltd grew its holdings in shares of Thomson Reuters by 9.8% during the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after acquiring an additional 445,444 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Thomson Reuters by 6.2% in the third quarter. The Manufacturers Life Insurance Company now owns 4,088,818 shares of the business services provider’s stock worth $500,872,000 after acquiring an additional 240,148 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Thomson Reuters by 30.8% during the fourth quarter. TD Asset Management Inc now owns 3,752,472 shares of the business services provider’s stock worth $551,317,000 after acquiring an additional 884,572 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in Thomson Reuters by 0.8% during the fourth quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock valued at $260,723,000 after purchasing an additional 13,747 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRI has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Thomson Reuters from $152.00 to $163.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Barclays raised shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $150.00 to $180.00 in a research note on Thursday, March 14th. TD Securities increased their target price on shares of Thomson Reuters from $210.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, March 13th. CIBC boosted their price target on Thomson Reuters from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group upped their price target on Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $170.64.

Thomson Reuters Stock Performance

NYSE:TRI traded up $0.27 during mid-day trading on Tuesday, hitting $168.34. 422,976 shares of the company’s stock traded hands, compared to its average volume of 349,833. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $166.95 and a two-hundred day moving average of $157.15. The firm has a market capitalization of $75.69 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 6.44 and a beta of 0.72. Thomson Reuters Co. has a 12 month low of $117.46 and a 12 month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.17. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Thomson Reuters had a net margin of 34.87% and a return on equity of 15.47%. Thomson Reuters’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share. On average, equities analysts forecast that Thomson Reuters Co. will post 3.67 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Wednesday, May 15th. Thomson Reuters’s payout ratio is presently 40.57%.

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.