Geode Capital Management LLC Has $130.34 Million Position in Thomson Reuters Co. (NYSE:TRI)

Geode Capital Management LLC boosted its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 754,630 shares of the business services provider’s stock after purchasing an additional 63,336 shares during the quarter. Geode Capital Management LLC owned about 0.17% of Thomson Reuters worth $130,341,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Thomson Reuters by 0.8% during the third quarter. FMR LLC now owns 7,209,202 shares of the business services provider’s stock worth $1,229,716,000 after purchasing an additional 57,854 shares during the period. TD Asset Management Inc increased its stake in Thomson Reuters by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 4,074,256 shares of the business services provider’s stock valued at $686,640,000 after purchasing an additional 26,483 shares in the last quarter. Fiera Capital Corp raised its holdings in Thomson Reuters by 1.0% during the third quarter. Fiera Capital Corp now owns 2,684,883 shares of the business services provider’s stock worth $458,559,000 after buying an additional 27,714 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Thomson Reuters by 11.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,577,905 shares of the business services provider’s stock valued at $439,665,000 after buying an additional 255,387 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Thomson Reuters by 9.4% during the second quarter. Clearbridge Investments LLC now owns 1,458,700 shares of the business services provider’s stock valued at $245,893,000 after buying an additional 125,167 shares during the last quarter. 17.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on TRI. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Royal Bank of Canada raised their target price on Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a report on Wednesday, November 6th. Wells Fargo & Company began coverage on Thomson Reuters in a report on Tuesday, November 26th. They set an “equal weight” rating and a $165.00 price target for the company. StockNews.com cut Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Scotiabank upped their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. 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 stock. Based on data from MarketBeat.com, Thomson Reuters presently has a consensus rating of “Hold” and a consensus price target of $175.20.

Thomson Reuters Price Performance

Shares of NYSE:TRI opened at $166.20 on Wednesday. Thomson Reuters Co. has a fifty-two week low of $138.85 and a fifty-two week high of $176.03. The company’s 50-day moving average is $166.13 and its 200 day moving average is $166.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $74.78 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 5.69 and a beta of 0.71.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its earnings results on Tuesday, November 5th. The business services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. On average, equities research analysts forecast that Thomson Reuters Co. will post 3.69 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio is currently 42.52%.

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.