Wpp Plc $WPP Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of Wpp Plc (NYSE:WPP) by 67.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 155,007 shares of the business services provider’s stock after selling 326,069 shares during the quarter. Royal Bank of Canada’s holdings in WPP were worth $2,411,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of WPP in the third quarter valued at $28,000. Global Retirement Partners LLC boosted its stake in shares of WPP by 1,279.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock worth $41,000 after acquiring an additional 1,689 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of WPP by 184.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after acquiring an additional 1,225 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of WPP by 105.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after acquiring an additional 717 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of WPP by 455.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock worth $52,000 after acquiring an additional 1,901 shares during the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPP has been the subject of several analyst reports. Citigroup reaffirmed a “neutral” rating on shares of WPP in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. The Goldman Sachs Group began coverage on WPP in a report on Wednesday, June 3rd. They set a “sell” rating on the stock. Berenberg Bank began coverage on shares of WPP in a research note on Tuesday, June 9th. They set a “buy” rating for the company. Finally, Rothschild & Co Redburn started coverage on shares of WPP in a research note on Thursday, May 28th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

WPP Price Performance

NYSE WPP opened at $26.82 on Monday. The firm’s 50 day moving average price is $19.55 and its two-hundred day moving average price is $18.36. The company has a current ratio of 0.87, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39. Wpp Plc has a twelve month low of $14.81 and a twelve month high of $27.78.

WPP Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be given a $0.5052 dividend. This represents a dividend yield of 390.0%. The ex-dividend date of this dividend is Friday, October 9th.

WPP Company Profile

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.