Royal Bank of Canada Decreases Holdings in RELX PLC $RELX

Key Points

• The Royal Bank of Canada reduced its stake in RELX PLC by 3.6%, selling 52,843 shares, while maintaining ownership of 1,409,943 shares valued at approximately $71 million.
• Several hedge funds significantly increased their positions in RELX, with Ameriprise Financial raising its holdings by 368.7% and GAMMA Investing boosting its stake by 6,125.5% during recent quarters.
• RELX announced a semi-annual dividend of $0.2634 per share, representing a yield of 170.0%, and received an upgrade to a "buy" rating from Wall Street Zen.

Royal Bank of Canada trimmed its position in shares of RELX PLC (NYSE:RELX - Free Report) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,409,943 shares of the technology company's stock after selling 52,843 shares during the period. Royal Bank of Canada owned approximately 0.08% of RELX worth $71,075,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted its stake in RELX by 612.5% during the 1st quarter. Larson Financial Group LLC now owns 513 shares of the technology company's stock worth $26,000 after acquiring an additional 441 shares in the last quarter. WPG Advisers LLC purchased a new stake in RELX during the first quarter worth about $28,000. Golden State Wealth Management LLC lifted its position in shares of RELX by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 588 shares of the technology company's stock worth $30,000 after purchasing an additional 294 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of RELX by 325.2% in the first quarter. Cornerstone Planning Group LLC now owns 693 shares of the technology company's stock valued at $37,000 after purchasing an additional 530 shares during the period. Finally, Redwood Investments LLC acquired a new position in shares of RELX in the fourth quarter valued at approximately $120,000. 15.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of RELX from a "buy" rating to a "hold" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, RELX currently has a consensus rating of "Buy".

RELX Stock Down 4.3%

Shares of RELX stock traded down $2.05 on Wednesday, reaching $45.15. 2,272,598 shares of the company were exchanged, compared to its average volume of 1,507,503. The stock's 50 day moving average price is $50.07 and its 200-day moving average price is $51.13. 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 PLC has a 1-year low of $44.19 and a 1-year high of $56.33. The company has a market cap of $82.82 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 3.08 and a beta of 0.87.

RELX Cuts Dividend

The company 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 dividend of $0.2634 per share. This represents a yield of 170.0%. The ex-dividend date is Friday, August 8th. RELX's payout ratio is 28.49%.

About RELX

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.