Zions Bancorporation National Association UT Acquires New Stake 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 purchased a new position in shares of RELX PLC (NYSE:RELX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 65,933 shares of the technology company's stock, valued at approximately $3,324,000.

Several other hedge funds also recently made changes to their positions in RELX. ABC Arbitrage SA boosted its holdings in 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in RELX by 103.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 106,220 shares of the technology company's stock valued at $5,355,000 after acquiring an additional 54,062 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in RELX by 19.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,957 shares of the technology company's stock valued at $956,000 after acquiring an additional 3,092 shares in the last quarter. Merit Financial Group LLC boosted its holdings in RELX by 77.7% in the first quarter. Merit Financial Group LLC now owns 11,757 shares of the technology company's stock valued at $593,000 after acquiring an additional 5,139 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in RELX by 21.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 162,830 shares of the technology company's stock valued at $7,396,000 after acquiring an additional 28,702 shares in the last quarter. 15.02% of the stock is owned by hedge funds and other institutional investors.

RELX Price Performance

NYSE:RELX traded up $0.03 during midday trading on Monday, hitting $48.03. 1,092,577 shares of the company traded hands, compared to its average volume of 1,344,248. The firm's fifty day moving average is $52.67 and its 200-day moving average is $51.61. RELX PLC has a 12-month low of $44.19 and a 12-month high of $56.33. 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 Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 8th will be paid a $0.2634 dividend. This represents a yield of 170.0%. The ex-dividend date is Friday, August 8th. RELX's payout ratio is 28.49%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of RELX from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley reiterated an "overweight" rating on shares of RELX in a research note on Wednesday, April 16th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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.