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 raised its stake in shares of Relx Plc (NYSE:RELX - Free Report) by 40.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,197 shares of the technology company's stock after purchasing an additional 55,579 shares during the quarter. Relx comprises 1.8% of ABC Arbitrage SA's holdings, making the stock its 14th biggest position. ABC Arbitrage SA's holdings in Relx were worth $9,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of RELX. Franklin Resources Inc. increased its stake in Relx by 17.1% during the 4th quarter. Franklin Resources Inc. now owns 21,584 shares of the technology company's stock valued at $980,000 after purchasing an additional 3,155 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Relx in the 4th quarter valued at $2,369,000. Envestnet Asset Management Inc. boosted its holdings in shares of Relx by 2.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,898,927 shares of the technology company's stock valued at $86,249,000 after acquiring an additional 48,336 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Relx by 38.0% in the 4th quarter. Russell Investments Group Ltd. now owns 18,066 shares of the technology company's stock valued at $821,000 after acquiring an additional 4,976 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Relx by 3.5% in the 4th quarter. Quadrant Capital Group LLC now owns 23,021 shares of the technology company's stock valued at $1,046,000 after acquiring an additional 773 shares during the last quarter. Institutional investors and hedge funds own 15.02% of the company's stock.

Relx Stock Performance

NYSE RELX traded down $1.32 during mid-day trading on Friday, reaching $48.00. 1,270,384 shares of the stock were exchanged, compared to its average volume of 1,342,445. The business's 50 day moving average is $52.80 and its 200-day moving average is $51.59. Relx Plc has a 1 year low of $44.19 and a 1 year high of $56.33. The company has a market capitalization of $88.16 billion, a P/E ratio of 25.81, a P/E/G ratio of 3.22 and a beta of 0.88. 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 Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.2634 per share. This represents a yield of 170.0%. The ex-dividend date of this dividend is Friday, August 8th. Relx's dividend payout ratio (DPR) is presently 65.05%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Relx in a report on Wednesday, April 16th. Wall Street Zen raised shares of Relx from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Relx 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.