Novem Group Takes $912,000 Position in RELX PLC $RELX

Key Points

• Novem Group has acquired a new stake in RELX PLC, purchasing 16,787 shares valued at approximately $912,000 during the second quarter.
• RELX's recent financial metrics indicate a market capitalization of $85.93 billion with a dividend yield of 170.0% and a dividend payout ratio of 28.49%.
• Analyst ratings for RELX show a mix of upgrades and downgrades, with one analyst labeling it as a Strong Buy and a consensus rating of Buy.

Novem Group purchased a new stake in shares of RELX PLC (NYSE:RELX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,787 shares of the technology company's stock, valued at approximately $912,000.

Several other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in RELX by 6,125.5% during the 1st quarter. GAMMA Investing LLC now owns 679,073 shares of the technology company's stock worth $34,232,000 after buying an additional 668,165 shares during the period. Carnegie Investment Counsel acquired a new position in shares of RELX in the first quarter worth approximately $16,026,000. Ameriprise Financial Inc. lifted its stake in shares of RELX by 8.3% in the first quarter. Ameriprise Financial Inc. now owns 3,041,132 shares of the technology company's stock worth $154,129,000 after acquiring an additional 234,094 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of RELX by 103.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 444,360 shares of the technology company's stock worth $22,400,000 after acquiring an additional 225,947 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of RELX by 9.2% in the first quarter. Northern Trust Corp now owns 2,394,097 shares of the technology company's stock worth $120,686,000 after acquiring an additional 202,509 shares during the period. 15.02% of the stock is currently owned by institutional investors and hedge funds.

RELX Stock Up 1.3%

RELX stock opened at $46.89 on Friday. 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 PLC has a 12-month low of $44.19 and a 12-month high of $56.33. The firm's fifty day moving average is $48.45 and its 200 day moving average is $51.01. The company has a market capitalization of $85.93 billion, a PE ratio of 25.21, a PEG ratio of 3.02 and a beta of 0.87.

RELX Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 8th were issued a dividend of $0.2634 per share. The ex-dividend date was Friday, August 8th. This represents a dividend yield of 170.0%. RELX's dividend payout ratio is currently 28.49%.

Analyst Upgrades and Downgrades

RELX has been the topic of a number of recent analyst reports. Kepler Capital Markets upgraded shares of RELX from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 18th. Wall Street Zen lowered shares of RELX from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, Morgan Stanley restated an "overweight" rating on shares of RELX in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.