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

JPMorgan Chase & Co. increased its position in Relx Plc (NYSE:RELX) by 18.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,007,921 shares of the technology company’s stock after purchasing an additional 153,821 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.06% of Relx worth $48,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Orion Porfolio Solutions LLC raised its holdings in Relx by 622.0% in the second quarter. Orion Porfolio Solutions LLC now owns 1,350,189 shares of the technology company’s stock worth $73,369,000 after purchasing an additional 1,163,189 shares in the last quarter. ABC Arbitrage SA grew its position in shares of Relx by 188.9% in the 2nd quarter. ABC Arbitrage SA now owns 560,958 shares of the technology company’s stock worth $30,482,000 after buying an additional 366,761 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Relx by 10.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,344,134 shares of the technology company’s stock worth $181,569,000 after acquiring an additional 303,002 shares in the last quarter. Evelyn Partners Asset Management Ltd purchased a new position in Relx during the 2nd quarter valued at about $11,649,000. Finally, SCS Capital Management LLC boosted its stake in Relx by 341.1% during the second quarter. SCS Capital Management LLC now owns 238,768 shares of the technology company’s stock worth $12,975,000 after acquiring an additional 184,643 shares in the last quarter. 15.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RELX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Relx from a “hold” rating to a “buy” rating in a research note on Tuesday, December 9th. Zacks Research raised Relx from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Morgan Stanley reiterated an “overweight” rating on shares of Relx in a research note on Monday, February 2nd. Wall Street Zen raised Relx from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Citigroup assumed coverage on Relx in a report on Monday, January 12th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Relx currently has an average rating of “Buy”.

Relx Stock Performance

RELX opened at $34.06 on Friday. The company’s 50-day simple moving average is $36.89 and its two-hundred day simple moving average is $41.90. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.44 and a current ratio of 0.49. Relx Plc has a 52-week low of $27.57 and a 52-week high of $56.33.

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

Relx Announces Dividend

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

Relx 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.