Relx Plc $RELX Shares Sold by Causeway Capital Management LLC

Key Points

• Causeway Capital Management LLC reduced its stake in Relx Plc by 2.5%, holding 454,346 shares valued at approximately $22.9 million at the end of Q1.
• Relx announced a semi-annual dividend of $0.2634, with a yield of 170.0%, to be paid to investors of record on August 8th.
• Analyst ratings have improved for Relx, with a recent upgrade from "hold" to "buy," and an average rating of "buy" among analysts.

Causeway Capital Management LLC lessened its holdings in Relx Plc (NYSE:RELX - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 454,346 shares of the technology company's stock after selling 11,540 shares during the period. Causeway Capital Management LLC's holdings in Relx were worth $22,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC increased its position in Relx by 842.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,676 shares of the technology company's stock worth $135,000 after buying an additional 2,392 shares in the last quarter. Freedom Investment Management Inc. lifted its stake in shares of Relx by 1.6% during the first quarter. Freedom Investment Management Inc. now owns 23,258 shares of the technology company's stock valued at $1,172,000 after buying an additional 368 shares during the period. ICONIQ Capital LLC lifted its stake in shares of Relx by 9.4% during the first quarter. ICONIQ Capital LLC now owns 8,284 shares of the technology company's stock valued at $418,000 after buying an additional 710 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Relx by 5.7% during the first quarter. Smartleaf Asset Management LLC now owns 12,756 shares of the technology company's stock valued at $640,000 after buying an additional 690 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Relx by 8.3% during the first quarter. Ameriprise Financial Inc. now owns 3,041,132 shares of the technology company's stock valued at $154,129,000 after buying an additional 234,094 shares during the period. Hedge funds and other institutional investors own 15.02% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Relx from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy".

Relx Stock Down 0.7%

RELX traded down $0.32 during trading hours on Friday, reaching $46.64. 1,853,527 shares of the stock traded hands, compared to its average volume of 1,586,397. The firm's fifty day simple moving average is $51.18 and its two-hundred day simple moving average is $51.38. The company has a market cap of $85.56 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 3.04 and a beta of 0.88. Relx Plc has a fifty-two week low of $44.19 and a fifty-two week high of $56.33. 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 Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, September 16th. Investors 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 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.