QRG Capital Management Inc. Cuts Position in Relx Plc $RELX

QRG Capital Management Inc. lowered its stake in Relx Plc (NYSE:RELX) by 11.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 129,016 shares of the technology company’s stock after selling 17,357 shares during the period. QRG Capital Management Inc.’s holdings in Relx were worth $5,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Relx by 17.1% in the first quarter. AQR Capital Management LLC now owns 63,622 shares of the technology company’s stock worth $3,207,000 after buying an additional 9,287 shares in the last quarter. Millennium Management LLC increased its holdings in Relx by 51.4% in the 1st quarter. Millennium Management LLC now owns 275,566 shares of the technology company’s stock worth $13,891,000 after buying an additional 93,610 shares in the last quarter. Focus Partners Wealth lifted its stake in Relx by 5.1% during the 1st quarter. Focus Partners Wealth now owns 10,757 shares of the technology company’s stock valued at $542,000 after acquiring an additional 522 shares during the period. Acadian Asset Management LLC grew its stake in shares of Relx by 60.2% in the first quarter. Acadian Asset Management LLC now owns 14,302 shares of the technology company’s stock worth $720,000 after acquiring an additional 5,374 shares during the period. Finally, Sivia Capital Partners LLC lifted its position in Relx by 57.9% during the second quarter. Sivia Capital Partners LLC now owns 7,005 shares of the technology company’s stock valued at $381,000 after purchasing an additional 2,568 shares during the period. Institutional investors own 15.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RELX. Morgan Stanley reaffirmed an “overweight” rating on shares of Relx in a report on Monday, February 2nd. Wall Street Zen downgraded shares of Relx from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Citigroup upgraded shares of Relx from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 8th. Finally, Zacks Research cut shares of Relx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Relx Trading Down 1.1%

RELX opened at $35.75 on Thursday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.44 and a current ratio of 0.49. The business has a fifty day moving average of $34.50 and a 200 day moving average of $37.80. Relx Plc has a 52-week low of $27.57 and a 52-week high of $56.33.

Relx (NYSE:RELX) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $42.81 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $41.96. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $6.70 billion. As a group, equities analysts predict that Relx Plc will post 1.94 EPS for the current fiscal year.

Relx Announces Dividend

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

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.