PNC Financial Services Group Inc. Purchases 25,950 Shares of Relx Plc $RELX

PNC Financial Services Group Inc. raised its position in Relx Plc (NYSE:RELX) by 51.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,445 shares of the technology company’s stock after buying an additional 25,950 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Relx were worth $3,651,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RELX. Frank Rimerman Advisors LLC increased its holdings in Relx by 3.5% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 6,866 shares of the technology company’s stock worth $373,000 after acquiring an additional 230 shares during the last quarter. Whipplewood Advisors LLC boosted its position in Relx by 15.7% during the second quarter. Whipplewood Advisors LLC now owns 1,719 shares of the technology company’s stock worth $93,000 after purchasing an additional 233 shares during the period. Global Retirement Partners LLC increased its stake in shares of Relx by 6.3% in the third quarter. Global Retirement Partners LLC now owns 4,067 shares of the technology company’s stock worth $194,000 after purchasing an additional 240 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Relx by 3.2% in the third quarter. Concurrent Investment Advisors LLC now owns 8,039 shares of the technology company’s stock valued at $384,000 after purchasing an additional 252 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Relx by 7.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,007 shares of the technology company’s stock valued at $218,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 15.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RELX shares. Wall Street Zen lowered shares of Relx from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Zacks Research raised Relx from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Relx in a research note on Monday, December 29th. Morgan Stanley reissued an “overweight” rating on shares of Relx in a report on Monday, February 2nd. Finally, Citigroup began coverage on Relx in a research note on Monday, January 12th. They issued 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 given a Hold rating to the company. According to data from MarketBeat, Relx presently has an average rating of “Buy”.

Relx Trading Up 1.6%

Relx stock opened at $31.49 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.49 and a debt-to-equity ratio of 2.38. Relx Plc has a fifty-two week low of $27.57 and a fifty-two week high of $56.33. The firm’s fifty day moving average price is $37.59 and its 200-day moving average price is $42.37.

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

Relx Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 8th. This represents a dividend yield of 422.0%.

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.