Scotia Capital Inc. Sells 13,587 Shares of 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 holdings in shares of Relx Plc (NYSE:RELX - Free Report) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Larson Financial Group LLC raised its holdings in shares of Relx by 612.5% in the first quarter. Larson Financial Group LLC now owns 513 shares of the technology company's stock valued at $26,000 after purchasing an additional 441 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Relx by 100.0% during the 1st 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 during the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Relx by 325.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 693 shares of the technology company's stock worth $37,000 after purchasing an additional 530 shares in the last quarter. Transce3nd LLC bought a new position in shares of Relx in the fourth quarter valued at $40,000. Finally, Redwood Investments LLC acquired a new position in Relx during the fourth quarter worth $120,000. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Relx Stock Up 1.1%

Shares of NYSE:RELX traded up $0.52 during midday trading on Thursday, hitting $49.33. 1,388,187 shares of the company's stock were exchanged, compared to its average volume of 830,772. Relx Plc has a 12 month low of $44.19 and a 12 month high of $56.33. The company has a market cap of $90.60 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 3.30 and a beta of 0.88. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.47 and a quick ratio of 0.42. The stock has a 50 day moving average price of $53.01 and a 200-day moving average price of $51.59.

Relx Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 8th will be given a $0.2634 dividend. This represents a yield of 170.0%. The ex-dividend date of this dividend is Friday, August 8th. Relx's dividend payout ratio is presently 27.96%.

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.