Relx (NYSE:RELX) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Relx (NYSE:RELX) from a buy rating to a hold rating in a report released on Saturday morning.

Separately, Redburn Atlantic started coverage on Relx in a research report on Wednesday, January 8th. They issued a “buy” rating on the stock.

Relx Price Performance

Shares of Relx stock opened at $49.22 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $91.47 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.73 and a beta of 0.90. Relx has a 52 week low of $40.25 and a 52 week high of $51.99. The stock’s 50-day simple moving average is $48.18 and its 200-day simple moving average is $47.38.

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 given a $0.5586 dividend. This is an increase from Relx’s previous semi-annual dividend of $0.23. This represents a dividend yield of 1.6%. The ex-dividend date is Friday, May 9th. Relx’s payout ratio is currently 59.68%.

Institutional Investors Weigh In On Relx

A number of hedge funds have recently made changes to their positions in RELX. Ameriprise Financial Inc. raised its position in Relx by 368.7% during the fourth quarter. Ameriprise Financial Inc. now owns 2,807,038 shares of the technology company’s stock valued at $127,437,000 after purchasing an additional 2,208,119 shares during the period. Raymond James Financial Inc. purchased a new stake in Relx during the fourth quarter valued at approximately $44,516,000. Northern Trust Corp raised its position in Relx by 51.6% during the fourth quarter. Northern Trust Corp now owns 2,191,588 shares of the technology company’s stock valued at $99,542,000 after purchasing an additional 745,532 shares during the period. Bank of Montreal Can raised its position in Relx by 290.3% during the fourth quarter. Bank of Montreal Can now owns 886,758 shares of the technology company’s stock valued at $40,277,000 after purchasing an additional 659,547 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Relx by 50.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,968,739 shares of the technology company’s stock valued at $89,420,000 after purchasing an additional 658,655 shares during the period. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

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.