Park Avenue Securities LLC Decreases Position in Relx Plc $RELX

Key Points

• Park Avenue Securities LLC reduced its stake in Relx Plc by 9.6% in the second quarter, now holding 58,796 shares worth approximately $3.2 million.
• Relx recently announced a semi-annual dividend of $0.2634 per share, with a dividend yield of 170.0% and a payout ratio of 28.49%.
• Despite some analysts raising ratings on Relx, one firm has downgraded it from a "buy" to a "hold," indicating mixed sentiments in the market.

Park Avenue Securities LLC lowered its stake in shares of Relx Plc (NYSE:RELX - Free Report) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,796 shares of the technology company's stock after selling 6,254 shares during the quarter. Park Avenue Securities LLC's holdings in Relx were worth $3,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in Relx by 612.5% during the 1st quarter. Larson Financial Group LLC now owns 513 shares of the technology company's stock worth $26,000 after purchasing an additional 441 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Relx during the first quarter worth about $28,000. Golden State Wealth Management LLC increased its stake in shares of Relx by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 588 shares of the technology company's stock worth $30,000 after buying an additional 294 shares during the period. Cornerstone Planning Group LLC raised its holdings in Relx by 325.2% in the first quarter. Cornerstone Planning Group LLC now owns 693 shares of the technology company's stock valued at $37,000 after acquiring an additional 530 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Relx by 19.1% in the second quarter. UMB Bank n.a. now owns 1,634 shares of the technology company's stock worth $89,000 after acquiring an additional 262 shares during the last quarter. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

Relx Price Performance

Shares of RELX opened at $46.40 on Wednesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.47 and a quick ratio of 0.42. Relx Plc has a 1-year low of $44.19 and a 1-year high of $56.33. The stock has a market cap of $85.04 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 3.07 and a beta of 0.87. The firm has a fifty day moving average price of $48.86 and a 200 day moving average price of $51.05.

Relx Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 8th were given a $0.2634 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a dividend yield of 170.0%. Relx's dividend payout ratio is 28.49%.

Analyst Ratings Changes

A number of equities research analysts have commented on RELX shares. Kepler Capital Markets raised shares of Relx from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 18th. Morgan Stanley reissued an "overweight" rating on shares of Relx in a report on Thursday, September 11th. Finally, Wall Street Zen downgraded Relx from a "buy" rating to a "hold" rating in a report on Friday, September 5th. 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, Relx has a consensus rating of "Buy".

Relx Profile

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.

Want to see what other hedge funds are holding RELX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Relx Plc (NYSE:RELX - Free Report).

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.