Geode Capital Management LLC Acquires 63,336 Shares of Thomson Reuters Co. (NYSE:TRI)

Geode Capital Management LLC raised its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 9.2% during the third quarter, HoldingsChannel reports. The fund 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’s holdings in Thomson Reuters were worth $130,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI boosted its position in shares of Thomson Reuters by 115.7% in the third quarter. National Bank of Canada FI now owns 963,315 shares of the business services provider’s stock valued at $164,292,000 after acquiring an additional 516,715 shares during the period. Cibc World Market Inc. boosted its holdings in Thomson Reuters by 26.3% in the 2nd quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock valued at $223,525,000 after purchasing an additional 276,206 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Thomson Reuters during the 2nd quarter valued at $45,514,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 worth $439,665,000 after purchasing an additional 255,387 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of Thomson Reuters by 87.1% in the second quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after buying an additional 235,145 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. National Bank Financial raised Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Royal Bank of Canada lifted their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company began coverage on shares of Thomson Reuters in a report on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price target on the stock. Scotiabank lifted their price objective on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Finally, StockNews.com cut Thomson Reuters from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Thomson Reuters presently has a consensus rating of “Hold” and a consensus price target of $175.20.

Thomson Reuters Stock Down 0.5 %

TRI opened at $166.20 on Wednesday. Thomson Reuters Co. has a 12 month low of $138.85 and a 12 month high of $176.03. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $166.13 and its 200-day moving average price is $166.66. The company has a market cap of $74.78 billion, a P/E ratio of 32.72, a P/E/G ratio of 5.69 and a beta of 0.71.

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

Thomson Reuters Increases Dividend

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

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.