Envestnet Asset Management Inc. Cuts Stake in WPP plc (NYSE:WPP)

Envestnet Asset Management Inc. trimmed its holdings in WPP plc (NYSE:WPP - Free Report) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 183,662 shares of the business services provider's stock after selling 10,167 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of WPP worth $9,440,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC raised its position in WPP by 45.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,397 shares of the business services provider's stock valued at $335,000 after buying an additional 2,007 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of WPP in the third quarter valued at about $84,000. JPMorgan Chase & Co. boosted its stake in shares of WPP by 231.9% in the third quarter. JPMorgan Chase & Co. now owns 5,532 shares of the business services provider's stock valued at $283,000 after buying an additional 3,865 shares during the period. GAMMA Investing LLC raised its stake in WPP by 92.4% in the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider's stock valued at $64,000 after purchasing an additional 599 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its stake in WPP by 5.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 5,105 shares of the business services provider's stock valued at $262,000 after acquiring an additional 251 shares during the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.

WPP Price Performance

Shares of NYSE:WPP traded up $0.74 on Thursday, hitting $37.20. The company's stock had a trading volume of 85,157 shares, compared to its average volume of 200,245. The company has a 50-day simple moving average of $39.52 and a 200 day simple moving average of $46.97. The company has a market capitalization of $8.03 billion, a PE ratio of 6.24, a PEG ratio of 7.06 and a beta of 1.06. WPP plc has a 1 year low of $31.52 and a 1 year high of $57.37.

WPP Increases Dividend

The business also recently announced 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. This represents a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from WPP's previous semi-annual dividend of $0.95. WPP's payout ratio is 8.04%.

Analysts Set New Price Targets

Several equities analysts have issued reports on WPP shares. The Goldman Sachs Group began coverage on shares of WPP in a research report on Wednesday, March 26th. They issued a "neutral" rating for the company. Kepler Capital Markets upgraded WPP from a "hold" rating to a "buy" rating in a research note on Friday, January 24th. Finally, Barclays downgraded WPP from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 28th. Three equities research 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, the company presently has an average rating of "Moderate Buy".

WPP Company 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.