The Manufacturers Life Insurance Company Purchases Shares of 283,639 Relx Plc $RELX

The Manufacturers Life Insurance Company purchased a new stake in Relx Plc (NYSE:RELX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 283,639 shares of the technology company’s stock, valued at approximately $9,403,000.

Other institutional investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Relx in the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC lifted its stake in Relx by 2,574.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 722 shares of the technology company’s stock valued at $27,000 after purchasing an additional 695 shares during the last quarter. Whipplewood Advisors LLC grew its holdings in Relx by 2,468.4% during the first quarter. Whipplewood Advisors LLC now owns 976 shares of the technology company’s stock worth $32,000 after purchasing an additional 938 shares during the period. Transamerica Financial Advisors LLC grew its holdings in Relx by 3,040.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 785 shares of the technology company’s stock worth $32,000 after purchasing an additional 760 shares during the period. Finally, Manchester Capital Management LLC increased its position in Relx by 1,823.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,058 shares of the technology company’s stock worth $43,000 after buying an additional 1,003 shares during the last quarter. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RELX shares. Morgan Stanley lowered Relx from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 7th. The Goldman Sachs Group initiated coverage on Relx in a research note on Wednesday, June 3rd. They set a “buy” rating for the company. Weiss Ratings cut Relx from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Relx from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Barclays reaffirmed an “overweight” rating on shares of Relx in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Relx Stock Performance

Shares of RELX opened at $36.17 on Tuesday. The company has a current ratio of 0.45, a quick ratio of 0.40 and a debt-to-equity ratio of 5.23. Relx Plc has a 52 week low of $27.57 and a 52 week high of $51.99. The firm’s 50-day simple moving average is $33.25 and its 200 day simple moving average is $33.93.

Relx Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.2785 per share. This represents a dividend yield of 163.0%. The ex-dividend date is Friday, August 7th.

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.