Ellevest Inc. Sells 646 Shares of WPP plc (NYSE:WPP)

Ellevest Inc. trimmed its holdings in shares of WPP plc (NYSE:WPP) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,674 shares of the business services provider’s stock after selling 646 shares during the quarter. Ellevest Inc.’s holdings in WPP were worth $292,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Invesco Ltd. boosted its position in shares of WPP by 11.9% during the 4th quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider’s stock worth $83,472,000 after acquiring an additional 172,212 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of WPP by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider’s stock worth $24,928,000 after buying an additional 35,412 shares in the last quarter. Northern Trust Corp lifted its position in shares of WPP by 83.5% during the 4th quarter. Northern Trust Corp now owns 253,640 shares of the business services provider’s stock worth $13,037,000 after buying an additional 115,416 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in WPP in the fourth quarter valued at about $8,724,000. Finally, Optiver Holding B.V. grew its position in WPP by 104.6% in the fourth quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider’s stock valued at $7,272,000 after acquiring an additional 72,342 shares during the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays lowered WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 28th. Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group started coverage on shares of WPP in a report on Wednesday, March 26th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

WPP Stock Up 1.2 %

Shares of WPP stock opened at $39.36 on Friday. The business has a 50-day moving average price of $37.81 and a two-hundred day moving average price of $45.94. WPP plc has a 12-month low of $31.52 and a 12-month high of $57.37. The firm has a market cap of $8.49 billion, a P/E ratio of 6.59, a price-to-earnings-growth ratio of 7.06 and a beta of 1.04.

WPP Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 6th will be paid a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This is a boost from WPP’s previous semi-annual dividend of $0.95. This represents a dividend yield of 6.2%. WPP’s dividend payout ratio (DPR) is presently 8.04%.

About WPP

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.