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

PNC Financial Services Group Inc. lifted its stake in shares of Relx Plc (NYSE:RELX) by 51.4% in the third quarter, HoldingsChannel.com reports. The fund owned 76,445 shares of the technology company’s stock after acquiring 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.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its stake in Relx by 10.0% in the second quarter. Ameriprise Financial Inc. now owns 3,344,134 shares of the technology company’s stock valued at $181,569,000 after acquiring an additional 303,002 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Relx by 0.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,784,488 shares of the technology company’s stock worth $85,227,000 after purchasing an additional 14,404 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Relx by 5.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,596,711 shares of the technology company’s stock worth $86,765,000 after purchasing an additional 83,196 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Relx by 622.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 1,350,189 shares of the technology company’s stock valued at $73,369,000 after purchasing an additional 1,163,189 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Relx by 3.6% during the 2nd quarter. Raymond James Financial Inc. now owns 1,011,756 shares of the technology company’s stock valued at $54,979,000 after buying an additional 35,584 shares in the last quarter. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research raised Relx from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Relx in a report on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of Relx in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft raised shares of Relx from a “hold” rating to a “buy” rating in a report on Tuesday, December 9th. Finally, Wall Street Zen downgraded shares of Relx from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Relx has an average rating of “Buy”.

Relx Stock Performance

Shares of Relx stock opened at $31.49 on Friday. 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. The company’s 50 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 results on Thursday, February 12th. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.42). The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $6.70 billion. On average, sell-side analysts forecast that Relx Plc will post 1.68 EPS for the current year.

Relx Dividend Announcement

The company also recently announced 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 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.