Royal Bank of Canada Raises Stock Holdings in Relx Plc $RELX

Royal Bank of Canada lifted its holdings in Relx Plc (NYSE:RELX) by 12.1% in the first quarter, HoldingsChannel reports. The firm owned 1,736,295 shares of the technology company’s stock after purchasing an additional 187,132 shares during the quarter. Royal Bank of Canada’s holdings in Relx were worth $57,558,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Capital International Investors raised its stake in Relx by 66.7% during the fourth quarter. Capital International Investors now owns 10,662,595 shares of the technology company’s stock valued at $433,887,000 after purchasing an additional 4,264,474 shares in the last quarter. Morgan Stanley lifted its position in Relx by 7.0% during the fourth quarter. Morgan Stanley now owns 6,279,696 shares of the technology company’s stock valued at $253,825,000 after purchasing an additional 408,833 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Relx by 185.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,252,044 shares of the technology company’s stock worth $140,955,000 after buying an additional 2,763,766 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Relx by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,502,488 shares of the technology company’s stock worth $141,583,000 after buying an additional 56,363 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Relx by 1.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,390,649 shares of the technology company’s stock worth $164,120,000 after buying an additional 46,515 shares during the last quarter. Institutional investors own 15.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RELX. Wall Street Zen cut shares of Relx from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. The Goldman Sachs Group started coverage on Relx in a research note on Wednesday, June 3rd. They set a “buy” rating on the stock. Barclays restated an “overweight” rating on shares of Relx in a research report on Friday, July 24th. Weiss Ratings lowered Relx from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Finally, Citigroup upgraded Relx from a “neutral” rating to a “buy” rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Relx Trading Down 3.1%

Relx stock opened at $35.46 on Friday. Relx Plc has a 12-month low of $27.57 and a 12-month high of $52.23. The company has a debt-to-equity ratio of 5.23, a quick ratio of 0.40 and a current ratio of 0.45. The firm has a 50-day moving average price of $33.18 and a 200-day moving average price of $34.03.

Relx Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 7th will be given a $0.2785 dividend. This represents a yield of 163.0%. The ex-dividend date of this dividend is Friday, August 7th.

Relx Profile

RELX plc is a global provider of information, analytics and decision tools for professional and business customers. The company supplies content, data and analytical services that support decision-making across scientific, technical and medical research, legal and regulatory practice, and risk and business analytics. RELX’s offerings are largely delivered via digital platforms and subscription services designed for institutions, corporations and professionals who require specialized, high-value information and workflow solutions.

RELX operates through distinct business lines that include Elsevier, which provides scientific, technical and medical journals, books and online platforms such as research and discovery tools; Legal and Professional services, which deliver legal, regulatory and compliance content and workflow solutions; Risk & Business Analytics, which offers data, analytics and decision tools for insurance, banking, corporate and government risk assessment; and Exhibitions, which organizes industry trade shows and events.