Relx (NYSE:RELX) Reaches New 1-Year High - Here's Why

Relx Plc (NYSE:RELX - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $53.15 and last traded at $53.10, with a volume of 1299940 shares. The stock had previously closed at $52.07.

Wall Street Analyst Weigh In

RELX has been the topic of several recent research reports. Morgan Stanley reissued an "overweight" rating on shares of Relx in a report on Wednesday, April 16th. Barclays raised shares of Relx from an "equal weight" rating to an "overweight" rating in a report on Friday, March 14th. The Goldman Sachs Group began coverage on Relx in a research report on Wednesday, March 26th. They set a "buy" rating for the company. StockNews.com downgraded Relx from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Redburn Atlantic started coverage on Relx in a research note on Wednesday, January 8th. They issued a "buy" rating for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Relx currently has a consensus rating of "Buy".

Relx Trading Down 0.7 %

The stock has a market capitalization of $98.42 billion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 2.73 and a beta of 0.84. The business has a 50 day simple moving average of $49.53 and a 200-day simple moving average of $48.25. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.47 and a current ratio of 0.52.

Relx Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, June 25th. Investors of record on Friday, May 9th will be issued a dividend of $0.5586 per share. This is a positive change from Relx's previous semi-annual dividend of $0.23. This represents a yield of 1.6%. The ex-dividend date of this dividend is Friday, May 9th. Relx's payout ratio is presently 59.68%.

Hedge Funds Weigh In On Relx

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Relx during the 3rd quarter worth $223,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Relx in the 3rd quarter valued at approximately $125,000. Peapack Gladstone Financial Corp boosted its stake in Relx by 5.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 4,924 shares of the technology company's stock worth $234,000 after purchasing an additional 267 shares during the period. Franklin Resources Inc. grew its position in Relx by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 18,429 shares of the technology company's stock worth $873,000 after purchasing an additional 588 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Relx by 14.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 826,481 shares of the technology company's stock valued at $39,225,000 after purchasing an additional 104,999 shares during the period. Institutional investors and hedge funds own 15.02% of the company's stock.

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.