Royal Bank of Canada Has $19.56 Million Stock Position in WPP plc (NYSE:WPP)

Royal Bank of Canada lessened its holdings in shares of WPP plc (NYSE:WPP) by 52.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 380,516 shares of the business services provider’s stock after selling 413,255 shares during the period. Royal Bank of Canada’s holdings in WPP were worth $19,558,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in WPP by 231.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,532 shares of the business services provider’s stock worth $283,000 after buying an additional 3,865 shares during the period. Blue Trust Inc. increased its stake in shares of WPP by 14.1% in the fourth quarter. Blue Trust Inc. now owns 4,024 shares of the business services provider’s stock valued at $206,000 after buying an additional 498 shares during the period. Caprock Group LLC raised its position in shares of WPP by 5.4% during the fourth quarter. Caprock Group LLC now owns 6,885 shares of the business services provider’s stock worth $354,000 after acquiring an additional 350 shares during the last quarter. Inlet Private Wealth LLC lifted its stake in shares of WPP by 20.3% in the fourth quarter. Inlet Private Wealth LLC now owns 21,300 shares of the business services provider’s stock worth $1,095,000 after acquiring an additional 3,600 shares during the period. Finally, Optas LLC acquired a new position in shares of WPP in the fourth quarter worth approximately $234,000. Institutional investors own 4.34% of the company’s stock.

WPP Stock Performance

Shares of WPP stock opened at $40.10 on Friday. WPP plc has a fifty-two week low of $31.52 and a fifty-two week high of $57.37. The stock has a 50 day simple moving average of $37.72 and a two-hundred day simple moving average of $44.99. The company has a market cap of $8.65 billion, a P/E ratio of 6.72, a PEG ratio of 7.06 and a beta of 1.04.

WPP Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 6th will be paid a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This represents a dividend yield of 6.2%. This is a positive change from WPP’s previous semi-annual dividend of $0.95. WPP’s payout ratio is currently 8.04%.

Analyst Ratings Changes

A number of analysts have weighed in on WPP shares. Wall Street Zen downgraded shares of WPP from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group assumed coverage on shares of WPP in a report on Wednesday, March 26th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

WPP Profile

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.