Prosperity Consulting Group LLC Sells 7,349 Shares of Relx Plc (NYSE:RELX)

Key Points

• Prosperity Consulting Group LLC has decreased its holdings in Relx Plc by 9.4%, owning 71,119 shares worth approximately $3.59 million after selling 7,349 shares in Q1.
• Several institutional investors recently adjusted their positions, with Larson Financial Group increasing its stake by 612.5%, highlighting growing interest in Relx stock.
• Analysts have upgraded Relx from a "hold" to a "buy" rating, with an average rating of "Buy" from five research analysts, indicating positive market sentiment.

Prosperity Consulting Group LLC lessened its stake in Relx Plc (NYSE:RELX - Free Report) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,119 shares of the technology company's stock after selling 7,349 shares during the quarter. Prosperity Consulting Group LLC's holdings in Relx were worth $3,585,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its position in Relx by 612.5% in the first quarter. Larson Financial Group LLC now owns 513 shares of the technology company's stock worth $26,000 after acquiring an additional 441 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Relx by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 588 shares of the technology company's stock valued at $30,000 after buying an additional 294 shares during the period. Cornerstone Planning Group LLC boosted its position in Relx by 325.2% during the first quarter. Cornerstone Planning Group LLC now owns 693 shares of the technology company's stock valued at $37,000 after buying an additional 530 shares during the period. Transce3nd LLC purchased a new stake in Relx during the fourth quarter valued at about $40,000. Finally, Brown Brothers Harriman & Co. boosted its position in Relx by 218.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 965 shares of the technology company's stock valued at $44,000 after buying an additional 662 shares during the period. Institutional investors own 15.02% of the company's stock.

Relx Price Performance

NYSE:RELX traded down $0.04 during trading hours on Thursday, reaching $51.74. The stock had a trading volume of 734,534 shares, compared to its average volume of 789,227. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.42 and a current ratio of 0.47. Relx Plc has a 52 week low of $43.45 and a 52 week high of $56.33. The company has a 50 day moving average price of $53.45 and a two-hundred day moving average price of $51.45. The stock has a market capitalization of $95.03 billion, a PE ratio of 27.82, a PEG ratio of 3.39 and a beta of 0.83.

Relx Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 8th will be issued a $0.2634 dividend. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 1.7%. Relx's dividend payout ratio (DPR) is presently 27.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RELX shares. Wall Street Zen raised shares of Relx from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley reissued an "overweight" rating on shares of Relx in a research report on Wednesday, April 16th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy".

Relx Company 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.