Summit Securities Group LLC Takes $194,000 Position in Relx Plc (NYSE:RELX)

Summit Securities Group LLC bought a new stake in shares of Relx Plc (NYSE:RELX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,840 shares of the technology company’s stock, valued at approximately $194,000.

A number of other institutional investors have also recently modified their holdings of RELX. Ameriprise Financial Inc. grew its position in shares of Relx by 368.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,807,038 shares of the technology company’s stock valued at $127,437,000 after acquiring an additional 2,208,119 shares during the period. Northern Trust Corp grew its position in shares of Relx by 51.6% during the 4th quarter. Northern Trust Corp now owns 2,191,588 shares of the technology company’s stock valued at $99,542,000 after acquiring an additional 745,532 shares during the period. GAMMA Investing LLC grew its position in shares of Relx by 6,125.5% during the 1st quarter. GAMMA Investing LLC now owns 679,073 shares of the technology company’s stock valued at $34,232,000 after acquiring an additional 668,165 shares during the period. Carnegie Investment Counsel acquired a new stake in shares of Relx during the 1st quarter valued at about $16,026,000. Finally, Bank of America Corp DE grew its position in shares of Relx by 4.2% during the 4th quarter. Bank of America Corp DE now owns 6,246,462 shares of the technology company’s stock valued at $283,714,000 after acquiring an additional 253,107 shares during the period. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Relx Trading Up 0.6%

RELX stock opened at $47.98 on Friday. 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 12-month low of $44.19 and a 12-month high of $56.33. The stock has a market cap of $88.02 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 3.13 and a beta of 0.88. The business’s 50-day moving average is $52.17 and its 200 day moving average is $51.56.

Relx Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 8th will be issued a $0.2634 dividend. This represents a yield of 170.0%. The ex-dividend date is Friday, August 8th. Relx’s payout ratio is presently 28.49%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Relx from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Five investment 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, Relx has a consensus rating of “Buy”.

Relx 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.