Zions Bancorporation National Association UT Acquires New Holdings in Relx Plc (NYSE:RELX)

Key Points

• Zions Bancorporation National Association UT has acquired a new position in Relx Plc, purchasing 65,933 shares valued at approximately $3.32 million during the first quarter.
• Multiple institutional investors, including Keystone Investors and National Bank of Canada, have significantly increased their holdings in Relx Plc, reflecting growing interest in the company's stock.
• Relx has declared a semi-annual dividend of $0.2634 with an impressive dividend yield of 170.0%, set to be paid on September 16th.

Zions Bancorporation National Association UT bought a new position in Relx Plc (NYSE:RELX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 65,933 shares of the technology company's stock, valued at approximately $3,324,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Keystone Investors PTE Ltd. increased its stake in Relx by 83.1% during the 1st quarter. Keystone Investors PTE Ltd. now owns 10,284 shares of the technology company's stock valued at $518,000 after purchasing an additional 4,667 shares in the last quarter. National Bank of Canada FI lifted its holdings in Relx by 22.3% during the first quarter. National Bank of Canada FI now owns 3,261 shares of the technology company's stock valued at $164,000 after purchasing an additional 594 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Relx by 16.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 167,175 shares of the technology company's stock valued at $8,427,000 after acquiring an additional 23,692 shares during the last quarter. Legacy Capital Group California Inc. boosted its stake in shares of Relx by 8.0% in the first quarter. Legacy Capital Group California Inc. now owns 5,263 shares of the technology company's stock valued at $265,000 after purchasing an additional 392 shares during the period. Finally, ABC Arbitrage SA boosted its stake 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 purchasing an additional 55,579 shares during the period. 15.02% of the stock is currently owned by institutional investors.

Relx Stock Performance

Relx stock traded down $0.07 during trading hours on Wednesday, reaching $47.77. 1,311,733 shares of the stock were exchanged, compared to its average volume of 842,032. The stock has a market cap of $87.62 billion, a P/E ratio of 25.67, a P/E/G ratio of 3.13 and a beta of 0.88. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.42 and a current ratio of 0.47. Relx Plc has a 52-week low of $44.19 and a 52-week high of $56.33. The firm's 50 day moving average is $52.54 and its 200 day moving average is $51.59.

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 paid a dividend of $0.2634 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a dividend yield of 170.0%. Relx's dividend payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RELX shares. Morgan Stanley reiterated an "overweight" rating on shares of Relx in a research note on Wednesday, April 16th. Wall Street Zen upgraded shares of 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy".

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.