Scotia Capital Inc. Has $8.83 Million Stock Holdings in Relx Plc (NYSE:RELX)

Key Points

• Scotia Capital Inc. has reduced its stake in Relx Plc by 7.2% during the first quarter, selling 13,587 shares and now holding a total of 175,232 shares valued at approximately $8.83 million.
• Multiple institutional investors are adjusting their positions in Relx, with Fiera Capital Corp boosting its holdings by 22.9% and PNC Financial Services increasing theirs by 1.8%.
• Relx announced a semi-annual dividend of $0.2634 per share, which signifies a yield of 170.0%, with the payment scheduled for September 16th.

Scotia Capital Inc. lowered its position in Relx Plc (NYSE:RELX - Free Report) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,232 shares of the technology company's stock after selling 13,587 shares during the quarter. Scotia Capital Inc.'s holdings in Relx were worth $8,833,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in shares of Relx by 1.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 47,713 shares of the technology company's stock valued at $2,405,000 after buying an additional 861 shares during the period. Cordatus Wealth Management LLC bought a new stake in Relx in the first quarter valued at approximately $575,000. Natixis Advisors LLC grew its holdings in shares of Relx by 0.5% in the 1st quarter. Natixis Advisors LLC now owns 1,208,467 shares of the technology company's stock valued at $60,919,000 after buying an additional 5,875 shares during the period. Fiera Capital Corp raised its stake in Relx by 22.9% during the 1st quarter. Fiera Capital Corp now owns 10,411 shares of the technology company's stock worth $525,000 after buying an additional 1,941 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of Relx by 9.5% in the first quarter. LPL Financial LLC now owns 252,566 shares of the technology company's stock worth $12,732,000 after acquiring an additional 21,977 shares in the last quarter. 15.02% of the stock is owned by institutional investors.

Relx Trading Down 3.5%

Shares of RELX traded down $1.78 during midday trading on Wednesday, hitting $48.81. 4,000,418 shares of the stock were exchanged, compared to its average volume of 827,776. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.42 and a current ratio of 0.47. The firm has a market cap of $89.65 billion, a P/E ratio of 26.24, a P/E/G ratio of 3.39 and a beta of 0.88. The stock has a fifty day simple moving average of $53.13 and a 200 day simple moving average of $51.61. Relx Plc has a 52-week low of $44.14 and a 52-week high of $56.33.

Relx Cuts Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on RELX shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Relx in a report on Wednesday, April 16th. Wall Street Zen upgraded Relx from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Relx currently has an average rating of "Buy".

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.