ABC Arbitrage SA Boosts Holdings in Relx Plc (NYSE:RELX)

Key Points

• ABC Arbitrage SA increased its stake in Relx Plc by 40.1%, owning 194,197 shares valued at approximately $9.79 million.
• Relx recently announced a semi-annual dividend of $0.2634, scheduled for payment on September 16th, with a dividend yield of 170.0%.
• Several analysts have upgraded Relx's stock rating, with Wall Street Zen upgrading it from "hold" to "buy," while the stock currently has an average rating of "Buy" from five analysts.

ABC Arbitrage SA boosted its stake in shares of Relx Plc (NYSE:RELX - Free Report) by 40.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 194,197 shares of the technology company's stock after buying an additional 55,579 shares during the quarter. Relx accounts for approximately 1.8% of ABC Arbitrage SA's portfolio, making the stock its 14th largest holding. ABC Arbitrage SA's holdings in Relx were worth $9,789,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in RELX. Franklin Resources Inc. boosted its position in shares of Relx by 17.1% in the 4th quarter. Franklin Resources Inc. now owns 21,584 shares of the technology company's stock worth $980,000 after buying an additional 3,155 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Relx in the fourth quarter valued at approximately $2,369,000. Envestnet Asset Management Inc. grew its position in shares of Relx by 2.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,898,927 shares of the technology company's stock valued at $86,249,000 after purchasing an additional 48,336 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Relx by 38.0% during the 4th quarter. Russell Investments Group Ltd. now owns 18,066 shares of the technology company's stock worth $821,000 after purchasing an additional 4,976 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Relx by 3.5% during the 4th quarter. Quadrant Capital Group LLC now owns 23,021 shares of the technology company's stock worth $1,046,000 after purchasing an additional 773 shares during the last quarter. 15.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RELX has been the topic of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Relx in a report on Wednesday, April 16th. Wall Street Zen upgraded Relx from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

Relx Trading Down 3.5%

Shares of NYSE:RELX traded down $1.78 during trading on Wednesday, reaching $48.81. The stock had a trading volume of 4,000,418 shares, compared to its average volume of 1,146,822. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 2.55. The stock has a market cap of $89.65 billion, a P/E ratio of 26.24, a PEG ratio of 3.30 and a beta of 0.88. The business has a fifty day moving average price of $53.13 and a 200-day moving average price of $51.61. Relx Plc has a fifty-two week low of $44.14 and a fifty-two week high of $56.33.

Relx Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 8th will be issued a $0.2634 dividend. The ex-dividend date is Friday, August 8th. This represents a yield of 170.0%. Relx's payout ratio is 27.96%.

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.