Sone Capital Management LLC Buys New Stake in Thomson Reuters Co. (NYSE:TRI)

Sone Capital Management LLC purchased a new position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,349 shares of the business services provider's stock, valued at approximately $3,424,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in shares of Thomson Reuters during the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new position in Thomson Reuters during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in Thomson Reuters in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased its position in shares of Thomson Reuters by 60.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider's stock valued at $58,000 after buying an additional 136 shares in the last quarter. Finally, GeoWealth Management LLC raised its stake in shares of Thomson Reuters by 1,306.6% during the 4th quarter. GeoWealth Management LLC now owns 858 shares of the business services provider's stock worth $138,000 after buying an additional 797 shares during the period. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Stock Up 0.8%

Shares of NYSE:TRI opened at $191.23 on Monday. Thomson Reuters Co. has a 52-week low of $150.01 and a 52-week high of $191.42. The stock has a market cap of $86.13 billion, a P/E ratio of 39.11, a PEG ratio of 5.67 and a beta of 0.75. The business has a fifty day moving average of $177.26 and a two-hundred day moving average of $170.65. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.07. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. Thomson Reuters's quarterly revenue was up .8% on a year-over-year basis. On average, research analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, May 15th. Thomson Reuters's dividend payout ratio is presently 49.69%.

Analyst Upgrades and Downgrades

TRI has been the topic of a number of research analyst reports. Scotiabank reissued a "sector perform" rating and issued a $188.00 price target on shares of Thomson Reuters in a research note on Friday, May 2nd. StockNews.com lowered shares of Thomson Reuters from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. CIBC raised their target price on Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. Finally, Royal Bank of Canada increased their price objective on Thomson Reuters from $182.00 to $185.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $183.70.

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.

Want to see what other hedge funds are holding TRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.