JPMorgan Chase & Co. Raises Stake in Relx Plc $RELX

JPMorgan Chase & Co. raised its position in Relx Plc (NYSE:RELX) by 18.0% during the third quarter, HoldingsChannel reports. The firm owned 1,007,921 shares of the technology company’s stock after buying an additional 153,821 shares during the quarter. JPMorgan Chase & Co.’s holdings in Relx were worth $48,138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Salomon & Ludwin LLC lifted its holdings in Relx by 1,646.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 681 shares of the technology company’s stock worth $32,000 after buying an additional 642 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Relx by 191.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 700 shares of the technology company’s stock valued at $33,000 after acquiring an additional 460 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Relx in the 2nd quarter valued at about $38,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Relx during the 2nd quarter worth about $44,000. Finally, Bessemer Group Inc. raised its position in shares of Relx by 104.2% during the 3rd quarter. Bessemer Group Inc. now owns 868 shares of the technology company’s stock worth $42,000 after acquiring an additional 443 shares in the last quarter. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Relx Trading Down 1.4%

Shares of NYSE RELX opened at $33.34 on Friday. Relx Plc has a twelve month low of $27.57 and a twelve month high of $56.33. The stock has a 50 day moving average of $34.75 and a two-hundred day moving average of $40.44. The company has a current ratio of 0.49, a quick ratio of 0.44 and a debt-to-equity ratio of 2.38.

Relx (NYSE:RELX) last announced its earnings results on Thursday, February 12th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.42). The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $6.70 billion. On average, research analysts expect that Relx Plc will post 1.68 EPS for the current fiscal year.

Relx Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.6559 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a yield of 422.0%.

Analysts Set New Price Targets

RELX has been the subject of a number of research analyst reports. Citigroup began coverage on Relx in a report on Monday, January 12th. They issued a “neutral” rating for the company. Zacks Research cut shares of Relx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Relx from a “hold” rating to a “buy” rating in a research report on Tuesday, December 9th. Wall Street Zen cut shares of Relx from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Relx in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

About Relx

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.