Fortis Capital Advisors LLC Acquires Shares of 9,110 Relx Plc $RELX

Key Points

• Fortis Capital Advisors LLC has invested approximately $459,000 in shares of Relx Plc, acquiring 9,110 shares during the first quarter.
• Several institutional investors significantly increased their stakes in Relx, with Larson Financial Group and Cornerstone Planning Group reporting increases of up to 612.5% and 325.2% respectively.
• Relx has cut its dividend, issuing a semi-annual dividend of $0.2634, with a payout ratio currently at 28.49% and a reported yield of 170.0%.

Fortis Capital Advisors LLC bought a new position in shares of Relx Plc (NYSE:RELX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,110 shares of the technology company's stock, valued at approximately $459,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bleakley Financial Group LLC boosted its position in shares of 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 acquiring an additional 207 shares during the last quarter. Cynosure Group LLC lifted its position in Relx by 3.5% during the first quarter. Cynosure Group LLC now owns 6,951 shares of the technology company's stock valued at $350,000 after purchasing an additional 236 shares during the last quarter. Bridgewater Advisors Inc. lifted its position in Relx by 2.1% during the first quarter. Bridgewater Advisors Inc. now owns 11,463 shares of the technology company's stock valued at $617,000 after purchasing an additional 238 shares during the last quarter. Ascent Group LLC lifted its position in Relx by 2.0% during the fourth quarter. Ascent Group LLC now owns 14,024 shares of the technology company's stock valued at $637,000 after purchasing an additional 277 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its position in Relx by 2.5% during the first quarter. Portside Wealth Group LLC now owns 11,710 shares of the technology company's stock valued at $590,000 after purchasing an additional 283 shares during the last quarter. Institutional investors own 15.02% of the company's stock.

Relx Trading Down 0.2%

RELX traded down $0.12 on Tuesday, reaching $46.75. 403,276 shares of the company traded hands, compared to its average volume of 935,713. Relx Plc has a one year low of $44.19 and a one year high of $56.33. The firm has a fifty day simple moving average of $49.67 and a two-hundred day simple moving average of $51.13. The company has a market cap of $85.67 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 3.03 and a beta of 0.87. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 2.55.

Relx Cuts Dividend

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

Analysts Set New Price Targets

RELX has been the subject of several research reports. Morgan Stanley reiterated an "overweight" rating on shares of Relx in a research report on Thursday. Wall Street Zen lowered shares of Relx from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

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.