Federation des caisses Desjardins du Quebec Lowers Holdings in Relx Plc $RELX

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Relx Plc by 6.8%, owning 103,873 shares worth approximately $5.2 million after selling 7,632 shares.
• Relx declared a semi-annual dividend of $0.2634 per share, with a dividend yield of 170.0%, despite a payout ratio of 28.49%.
• Wall Street analysts have recently upgraded Relx's rating from "hold" to "buy," with a consensus rating of "Buy" among five analysts.

Federation des caisses Desjardins du Quebec cut its stake in shares of Relx Plc (NYSE:RELX - Free Report) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,873 shares of the technology company's stock after selling 7,632 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Relx were worth $5,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in Relx by 4.2% during the 4th quarter. Bank of America Corp DE now owns 6,246,462 shares of the technology company's stock valued at $283,714,000 after acquiring an additional 253,107 shares during the period. Lazard Asset Management LLC raised its position in Relx by 1.2% during the 4th quarter. Lazard Asset Management LLC now owns 4,224,334 shares of the technology company's stock valued at $191,868,000 after purchasing an additional 48,793 shares during the last quarter. Ameriprise Financial Inc. raised its position in Relx by 8.3% during the 1st quarter. Ameriprise Financial Inc. now owns 3,041,132 shares of the technology company's stock valued at $154,129,000 after purchasing an additional 234,094 shares during the last quarter. Northern Trust Corp raised its position in Relx by 9.2% during the 1st quarter. Northern Trust Corp now owns 2,394,097 shares of the technology company's stock valued at $120,686,000 after purchasing an additional 202,509 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in Relx by 0.5% during the 1st quarter. Natixis Advisors LLC now owns 1,208,467 shares of the technology company's stock valued at $60,919,000 after purchasing an additional 5,875 shares during the last quarter. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Relx from a "buy" rating to a "hold" rating in a research 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 company. Based on data from MarketBeat.com, Relx presently has a consensus rating of "Buy".

Relx Stock Down 4.0%

Shares of NYSE:RELX traded down $1.90 during trading on Wednesday, hitting $45.29. The stock had a trading volume of 689,880 shares, compared to its average volume of 920,003. Relx Plc has a 12 month low of $44.19 and a 12 month high of $56.33. The company has a market capitalization of $83.08 billion, a PE ratio of 24.37, a PEG ratio of 3.09 and a beta of 0.87. The firm's fifty day moving average is $50.21 and its 200 day moving average is $51.17. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 2.55.

Relx Cuts Dividend

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

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.