Lazard Asset Management LLC grew its position in shares of Relx Plc (NYSE:RELX – Free Report) by 12.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,040,217 shares of the technology company’s stock after acquiring an additional 328,282 shares during the quarter. Lazard Asset Management LLC owned about 0.17% of Relx worth $100,783,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bridgewater Advisors Inc. raised its holdings in shares of Relx by 2.9% in the first quarter. Bridgewater Advisors Inc. now owns 11,404 shares of the technology company’s stock valued at $361,000 after acquiring an additional 320 shares in the last quarter. GC Wealth Management RIA LLC lifted its stake in Relx by 78.4% during the 1st quarter. GC Wealth Management RIA LLC now owns 42,701 shares of the technology company’s stock valued at $1,416,000 after acquiring an additional 18,769 shares during the period. Compound Planning Inc. boosted its holdings in shares of Relx by 23.1% in the 1st quarter. Compound Planning Inc. now owns 20,470 shares of the technology company’s stock valued at $679,000 after acquiring an additional 3,837 shares during the last quarter. Keebeck Wealth Management acquired a new stake in shares of Relx in the first quarter worth $243,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Relx by 185.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,252,044 shares of the technology company’s stock worth $140,955,000 after acquiring an additional 2,763,766 shares during the period. 15.02% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
RELX has been the subject of a number of research reports. Barclays restated an “overweight” rating on shares of Relx in a research report on Friday. The Goldman Sachs Group began coverage on Relx in a research note on Wednesday, June 3rd. They set a “buy” rating for the company. Weiss Ratings downgraded Relx from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Citigroup upgraded Relx from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 8th. Finally, Morgan Stanley cut Relx from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Relx currently has an average rating of “Moderate Buy”.
Relx Trading Up 3.6%
RELX opened at $35.65 on Tuesday. The company has a fifty day moving average of $32.89 and a two-hundred day moving average of $34.13. Relx Plc has a fifty-two week low of $27.57 and a fifty-two week high of $52.36. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 5.23.
Relx Cuts Dividend
The firm also recently declared a dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 7th will be paid a $0.2785 dividend. This represents a dividend yield of 163.0%. The ex-dividend date is Friday, August 7th.
Relx Company Profile
RELX plc is a global provider of information, analytics and decision tools for professional and business customers. The company supplies content, data and analytical services that support decision-making across scientific, technical and medical research, legal and regulatory practice, and risk and business analytics. RELX’s offerings are largely delivered via digital platforms and subscription services designed for institutions, corporations and professionals who require specialized, high-value information and workflow solutions.
RELX operates through distinct business lines that include Elsevier, which provides scientific, technical and medical journals, books and online platforms such as research and discovery tools; Legal and Professional services, which deliver legal, regulatory and compliance content and workflow solutions; Risk & Business Analytics, which offers data, analytics and decision tools for insurance, banking, corporate and government risk assessment; and Exhibitions, which organizes industry trade shows and events.
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