M&T Bank Corp Buys 162,755 Shares of Relx Plc $RELX

Key Points

• M&T Bank increased its stake in Relx by 448.5% in Q4, buying an additional 162,755 shares to own 199,046 shares worth about $8.045 million.
• Analyst sentiment is mixed but the consensus is a Moderate Buy, with recent moves including downgrades from Zacks and Wall Street Zen and positive notes from Morgan Stanley and Citigroup.
• Relx announced a dividend of $0.6559 per share (ex-dividend date May 8, payable June 24); the article cites an unusually high dividend yield of 422.0%.

M&T Bank Corp raised its stake in Relx Plc (NYSE:RELX - Free Report) by 448.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,046 shares of the technology company's stock after acquiring an additional 162,755 shares during the period. M&T Bank Corp's holdings in Relx were worth $8,045,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Optiver Holding B.V. bought a new stake in Relx in the third quarter valued at $20,570,000. American Century Companies Inc. grew its position in Relx by 15.5% in the third quarter. American Century Companies Inc. now owns 533,992 shares of the technology company's stock valued at $25,504,000 after acquiring an additional 71,515 shares during the period. Dimensional Fund Advisors LP grew its position in Relx by 7.9% in the third quarter. Dimensional Fund Advisors LP now owns 3,446,125 shares of the technology company's stock valued at $164,575,000 after acquiring an additional 252,390 shares during the period. Captrust Financial Advisors grew its position in Relx by 6.1% in the third quarter. Captrust Financial Advisors now owns 1,693,542 shares of the technology company's stock valued at $80,884,000 after acquiring an additional 96,831 shares during the period. Finally, ABC Arbitrage SA grew its position in Relx by 13.7% in the third quarter. ABC Arbitrage SA now owns 637,699 shares of the technology company's stock valued at $30,457,000 after acquiring an additional 76,741 shares during the period. 15.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RELX shares. Zacks Research lowered Relx from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a "hold (c+)" rating on shares of Relx in a research note on Monday, December 29th. Wall Street Zen lowered Relx from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Morgan Stanley reissued an "overweight" rating on shares of Relx in a research note on Monday, February 2nd. Finally, Citigroup raised Relx from a "neutral" rating to a "buy" rating in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Relx presently has an average rating of "Moderate Buy".

Relx Trading Up 1.1%

Relx stock opened at $36.54 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.49 and a quick ratio of 0.44. The business's fifty day moving average is $33.86 and its two-hundred day moving average is $38.28. Relx Plc has a 52 week low of $27.57 and a 52 week high of $56.33.

Relx (NYSE:RELX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $42.81 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $41.96. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $6.70 billion. On average, equities analysts forecast that Relx Plc will post 1.94 EPS for the current year.

Relx Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Friday, May 8th will be given a dividend of $0.6559 per share. The ex-dividend date is Friday, May 8th. This represents a dividend yield of 422.0%.

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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