Relx Plc $RELX Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its holdings in Relx Plc by 8.3% in the first quarter, owning over 3 million shares worth approximately $154.13 million.
• Several institutional investors, including Bank of America and Lazard Asset Management, have also increased their stakes in Relx, indicating growing confidence in the company.
• Relx recently declared a semi-annual dividend of $0.2634 with a yield of 170.0%; however, the firm’s overall financial metrics show a high debt-to-equity ratio of 2.55.

Ameriprise Financial Inc. raised its position in shares of Relx Plc (NYSE:RELX - Free Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,041,132 shares of the technology company's stock after purchasing an additional 234,094 shares during the period. Ameriprise Financial Inc. owned about 0.16% of Relx worth $154,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Bleakley Financial Group LLC boosted its position in Relx by 1.5% during the first quarter. Bleakley Financial Group LLC now owns 14,147 shares of the technology company's stock worth $713,000 after purchasing an additional 207 shares in the last quarter. Cynosure Group LLC lifted its position in shares of Relx by 3.5% in the first quarter. Cynosure Group LLC now owns 6,951 shares of the technology company's stock valued at $350,000 after acquiring an additional 236 shares in the last quarter. Bridgewater Advisors Inc. lifted its position in shares of Relx by 2.1% in the first quarter. Bridgewater Advisors Inc. now owns 11,463 shares of the technology company's stock valued at $617,000 after acquiring an additional 238 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Relx by 3.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 8,159 shares of the technology company's stock valued at $371,000 after acquiring an additional 267 shares in the last quarter. Finally, Ascent Group LLC lifted its position in shares of Relx by 2.0% in the fourth quarter. Ascent Group LLC now owns 14,024 shares of the technology company's stock valued at $637,000 after acquiring an additional 277 shares in the last quarter. 15.02% of the stock is owned by institutional investors.

Relx Trading Down 0.6%

RELX stock traded down $0.27 during midday trading on Friday, hitting $46.70. 732,415 shares of the company's stock were exchanged, compared to its average volume of 889,463. The business has a 50-day simple moving average of $51.29 and a two-hundred day simple moving average of $51.41. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $85.66 billion, a PE ratio of 25.10, a P/E/G ratio of 3.12 and a beta of 0.88. Relx Plc has a 1-year low of $44.19 and a 1-year high of $56.33.

Relx Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.2634 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a yield of 170.0%. Relx's dividend payout ratio (DPR) is 28.49%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Relx from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to MarketBeat.com, Relx presently has a consensus rating of "Buy".

Relx Company Profile

RELX Plc engages in provision of information and analytics solutions for professional and business customers across industries. It operates through the following business segments: Scientific, Technical & Medical; Risk & Business Analytics; Legal; and Exhibitions. The Scientific, Technical & Medical segment is a global information analytics business that helps institutions and professionals advance healthcare, open science, and improve performance for the benefit of humanity.