Geode Capital Management LLC Purchases 560,450 Shares of Thomson Reuters Co. (NYSE:TRI)

Geode Capital Management LLC grew its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 74.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,315,080 shares of the business services provider’s stock after buying an additional 560,450 shares during the quarter. Geode Capital Management LLC’s holdings in Thomson Reuters were worth $214,236,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in Thomson Reuters during the 4th quarter worth approximately $26,000. Curio Wealth LLC acquired a new position in Thomson Reuters during the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new position in Thomson Reuters in the fourth quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in Thomson Reuters in the 4th quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC lifted its position in Thomson Reuters by 60.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider’s stock worth $58,000 after buying an additional 136 shares in the last quarter. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Price Performance

NYSE:TRI opened at $165.98 on Monday. The firm’s fifty day moving average price is $173.30 and its two-hundred day moving average price is $167.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The company has a market cap of $74.71 billion, a P/E ratio of 33.94, a P/E/G ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a one year low of $149.50 and a one year high of $180.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. Equities analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Thursday, February 20th were paid a $0.595 dividend. The ex-dividend date was Thursday, February 20th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. This represents a $2.38 annualized dividend and a yield of 1.43%. Thomson Reuters’s payout ratio is 48.67%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TRI. Wells Fargo & Company lifted their target price on Thomson Reuters from $165.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Scotiabank upped their price objective on Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 7th. StockNews.com raised Thomson Reuters from a “sell” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group upped their price target on shares of Thomson Reuters from $168.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Canaccord Genuity Group lifted their price objective on shares of Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $177.56.

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.