Raymond James Financial Inc. Makes New Investment in WPP plc (NYSE:WPP)

Raymond James Financial Inc. acquired a new stake in WPP plc (NYSE:WPP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 169,724 shares of the business services provider's stock, valued at approximately $8,724,000. Raymond James Financial Inc. owned 0.08% of WPP as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. M&T Bank Corp grew its stake in shares of WPP by 1.9% in the fourth quarter. M&T Bank Corp now owns 12,506 shares of the business services provider's stock worth $642,000 after acquiring an additional 228 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in WPP by 2.5% in the fourth quarter. Jones Financial Companies Lllp now owns 10,231 shares of the business services provider's stock valued at $526,000 after purchasing an additional 249 shares during the period. Aaron Wealth Advisors LLC grew its stake in WPP by 5.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 5,105 shares of the business services provider's stock worth $262,000 after purchasing an additional 251 shares in the last quarter. HF Advisory Group LLC increased its holdings in WPP by 3.9% during the 4th quarter. HF Advisory Group LLC now owns 6,928 shares of the business services provider's stock worth $356,000 after purchasing an additional 260 shares during the period. Finally, Caprock Group LLC raised its position in WPP by 5.0% in the 3rd quarter. Caprock Group LLC now owns 6,535 shares of the business services provider's stock valued at $334,000 after purchasing an additional 313 shares in the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

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WPP Price Performance

Shares of WPP traded up $0.14 during mid-day trading on Tuesday, reaching $39.78. The company's stock had a trading volume of 273,398 shares, compared to its average volume of 188,838. WPP plc has a 12-month low of $38.90 and a 12-month high of $57.37. The stock has a market cap of $8.58 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 7.06 and a beta of 1.20. The company's 50 day moving average is $44.78 and its 200 day moving average is $49.31.

WPP Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.9728 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a yield of 6.2%. This is a boost from WPP's previous semi-annual dividend of $0.95. WPP's dividend payout ratio (DPR) is presently 8.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WPP shares. Kepler Capital Markets upgraded shares of WPP from a "hold" rating to a "buy" rating in a research note on Friday, January 24th. Barclays lowered shares of WPP from an "overweight" rating to an "equal weight" rating in a report on Friday, February 28th.

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.