Royal Bank of Canada Buys 187,132 Shares of Relx Plc $RELX

Key Points

• Royal Bank of Canada increased its RELX stake by 12.1% in the first quarter, purchasing 187,132 additional shares to own 1.74 million shares valued at approximately $57.6 million.
• RELX shares opened at $35.46, with the stock down 3.1%; it has traded between $27.57 and $52.23 over the past year. Institutional investors collectively own about 15.02% of the company.
• Analyst sentiment remains favorable, with one Strong Buy, four Buy and three Hold ratings, producing a “Moderate Buy” consensus. Recent recommendations included upgrades from Citigroup and buy ratings from Goldman Sachs and Barclays.

Royal Bank of Canada grew its stake in shares of Relx Plc (NYSE:RELX - Free Report) by 12.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,736,295 shares of the technology company's stock after purchasing an additional 187,132 shares during the quarter. Royal Bank of Canada owned approximately 0.10% of Relx worth $57,558,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RELX. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Relx in the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC grew its position in shares of Relx by 2,574.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 722 shares of the technology company's stock worth $27,000 after buying an additional 695 shares during the period. Whipplewood Advisors LLC lifted its holdings in shares of Relx by 2,468.4% during the first quarter. Whipplewood Advisors LLC now owns 976 shares of the technology company's stock valued at $32,000 after purchasing an additional 938 shares during the last quarter. Transamerica Financial Advisors LLC raised its stake in Relx by 3,040.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 785 shares of the technology company's stock valued at $32,000 after buying an additional 760 shares during the last quarter. Finally, Manchester Capital Management LLC raised its position in shares of Relx by 1,823.6% in the 4th quarter. Manchester Capital Management LLC now owns 1,058 shares of the technology company's stock worth $43,000 after purchasing an additional 1,003 shares during the last quarter. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

Relx Stock Down 3.1%

RELX opened at $35.46 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 5.23. The company has a fifty day moving average of $33.18 and a 200 day moving average of $34.03. Relx Plc has a fifty-two week low of $27.57 and a fifty-two week high of $52.23.

Relx Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.2785 per share. This represents a dividend yield of 163.0%. The ex-dividend date of this dividend is Friday, August 7th.

Analyst Ratings Changes

A number of brokerages recently weighed in on RELX. Citigroup upgraded shares of Relx from a "neutral" rating to a "buy" rating in a report on Wednesday, April 8th. Wall Street Zen cut shares of Relx from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Barclays reiterated an "overweight" rating on shares of Relx in a research report on Friday, July 24th. The Goldman Sachs Group started coverage on shares of Relx in a report on Wednesday, June 3rd. They set a "buy" rating on the stock. Finally, Weiss Ratings downgraded Relx from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

Relx Company Profile

RELX plc is a global provider of information, analytics and decision tools for professional and business customers. The company supplies content, data and analytical services that support decision-making across scientific, technical and medical research, legal and regulatory practice, and risk and business analytics. RELX's offerings are largely delivered via digital platforms and subscription services designed for institutions, corporations and professionals who require specialized, high-value information and workflow solutions.

RELX operates through distinct business lines that include Elsevier, which provides scientific, technical and medical journals, books and online platforms such as research and discovery tools; Legal and Professional services, which deliver legal, regulatory and compliance content and workflow solutions; Risk & Business Analytics, which offers data, analytics and decision tools for insurance, banking, corporate and government risk assessment; and Exhibitions, which organizes industry trade shows and events.

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