Bank of America Corp DE Purchases 522,619 Shares of Relx Plc $RELX

Key Points

• Bank of America increased its RELX stake by 14.3% in the first quarter, acquiring 522,619 shares and bringing its holdings to 4.18 million shares valued at approximately $138.6 million.
• Several other institutional investors also boosted their positions, including Arrowstreet Capital, Lazard Asset Management and Allspring Global Investments; institutional investors collectively owned 15.02% of RELX.
• Analyst sentiment remains generally positive, with RELX carrying a “Moderate Buy” consensus rating, although Morgan Stanley and Wall Street Zen downgraded the stock to “Equal Weight” and “Hold,” respectively.

Bank of America Corp DE lifted its position in shares of Relx Plc (NYSE:RELX - Free Report) by 14.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,180,034 shares of the technology company's stock after acquiring an additional 522,619 shares during the quarter. Bank of America Corp DE owned approximately 0.23% of Relx worth $138,568,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Lazard Asset Management LLC lifted its stake in Relx by 12.1% in the first quarter. Lazard Asset Management LLC now owns 3,040,217 shares of the technology company's stock valued at $100,783,000 after buying an additional 328,282 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Relx by 697.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 159,681 shares of the technology company's stock worth $5,306,000 after buying an additional 139,663 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Relx by 21.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 217,443 shares of the technology company's stock worth $8,789,000 after buying an additional 38,086 shares during the period. M&T Bank Corp increased its stake in shares of Relx by 448.5% in the 4th quarter. M&T Bank Corp now owns 199,046 shares of the technology company's stock valued at $8,045,000 after acquiring an additional 162,755 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased 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 valued at $140,955,000 after acquiring an additional 2,763,766 shares during the last quarter. Institutional investors and hedge funds own 15.02% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley downgraded shares of Relx from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 7th. Weiss Ratings cut shares of Relx from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. Barclays reaffirmed an "overweight" rating on shares of Relx in a research note on Friday, July 24th. The Goldman Sachs Group assumed coverage on shares of Relx in a report on Wednesday, June 3rd. They issued a "buy" rating on the stock. Finally, Wall Street Zen lowered shares of Relx from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy".

Relx Trading Down 2.4%

Shares of RELX opened at $35.74 on Friday. Relx Plc has a twelve month low of $27.57 and a twelve month high of $49.52. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 5.23. The firm's 50 day moving average price is $33.45 and its two-hundred day moving average price is $33.81.

Relx Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 7th will be issued a dividend of $0.2785 per share. This represents a dividend yield of 156.0%. The ex-dividend date 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.

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