SCS Capital Management LLC Acquires New Stake in Relx Plc $RELX

Key Points

• SCS Capital Management LLC purchased 54,125 shares of Relx Plc, valued at approximately $2.73 million, during the 1st quarter of the year.
• Relx recently cut its rating from "buy" to "hold" but maintains a consensus rating of "buy" based on one Strong Buy and four Buy ratings from analysts.
• The company announced a semi-annual dividend of $0.2634 per share, with an ex-dividend date of August 8th, representing a yield of 170.0% and a payout ratio of 28.49%.

SCS Capital Management LLC bought a new stake in Relx Plc (NYSE:RELX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 54,125 shares of the technology company's stock, valued at approximately $2,728,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. ABC Arbitrage SA increased its position in shares of Relx by 40.1% in the first quarter. ABC Arbitrage SA now owns 194,197 shares of the technology company's stock valued at $9,789,000 after acquiring an additional 55,579 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Relx by 16.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 167,175 shares of the technology company's stock worth $8,427,000 after purchasing an additional 23,692 shares during the period. Pandora Wealth Inc. bought a new position in Relx during the first quarter worth about $757,000. Massachusetts Financial Services Co. MA grew its holdings in Relx by 103.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 106,220 shares of the technology company's stock worth $5,355,000 after purchasing an additional 54,062 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in Relx by 8.7% during the first quarter. Neuberger Berman Group LLC now owns 279,344 shares of the technology company's stock worth $14,043,000 after purchasing an additional 22,249 shares during the period. Institutional investors and hedge funds own 15.02% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Relx from a "buy" rating to a "hold" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Relx Price Performance

NYSE RELX traded up $0.29 on Monday, hitting $46.79. 1,119,829 shares of the company's stock were exchanged, compared to its average volume of 934,512. The stock has a 50-day moving average of $49.80 and a 200-day moving average of $51.14. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 2.55. Relx Plc has a 52 week low of $44.19 and a 52 week high of $56.33. The stock has a market cap of $85.74 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 3.03 and a beta of 0.87.

Relx Cuts Dividend

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