Assetmark Inc. Sells 5,542 Shares of Relx Plc (NYSE:RELX)

Key Points

• Assetmark Inc. reduced its stake in RELX PLC by 16.9%, now holding $1.37 million worth of shares after selling 5,542 during the first quarter.
• Several institutional investors, including Bleakley Financial Group and Bridgewater Advisors, have made incremental increases in their holdings in RELX during the same period.
• RELX's stock received positive analyst ratings, with Five research analysts rating it a buy and Morgan Stanley maintaining an "overweight" rating.

Assetmark Inc. lessened its position in Relx Plc (NYSE:RELX - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,214 shares of the technology company's stock after selling 5,542 shares during the period. Assetmark Inc.'s holdings in Relx were worth $1,372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in Relx by 103.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 106,220 shares of the technology company's stock valued at $5,355,000 after buying an additional 54,062 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Relx by 19.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,957 shares of the technology company's stock valued at $956,000 after buying an additional 3,092 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Relx by 77.7% in the first quarter. Merit Financial Group LLC now owns 11,757 shares of the technology company's stock worth $593,000 after purchasing an additional 5,139 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Relx by 21.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 162,830 shares of the technology company's stock worth $7,396,000 after purchasing an additional 28,702 shares in the last quarter. Finally, Money Concepts Capital Corp increased its stake in shares of Relx by 237.4% in the first quarter. Money Concepts Capital Corp now owns 15,604 shares of the technology company's stock worth $787,000 after purchasing an additional 10,979 shares in the last quarter. Institutional investors own 15.02% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley reissued an "overweight" rating on shares of Relx in a research note on Wednesday, April 16th. Wall Street Zen raised shares of Relx from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

Relx Price Performance

RELX traded down $1.29 during trading on Tuesday, hitting $50.69. 762,349 shares of the company traded hands, compared to its average volume of 799,985. The company has a market cap of $93.09 billion, a PE ratio of 27.26, a P/E/G ratio of 3.36 and a beta of 0.88. The stock's 50-day simple moving average is $53.24 and its two-hundred day simple moving average is $51.62. Relx Plc has a 1 year low of $43.45 and a 1 year high of $56.33. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 2.55.

Relx Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 8th will be paid a dividend of $0.2634 per share. This represents a yield of 170.0%. The ex-dividend date of this dividend is Friday, August 8th. Relx's dividend payout ratio (DPR) is presently 65.05%.

About Relx

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.