StoneX Group Inc. Acquires New Shares in WPP plc (NYSE:WPP)

StoneX Group Inc. acquired a new position in WPP plc (NYSE:WPP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 18,598 shares of the business services provider's stock, valued at approximately $956,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vestmark Advisory Solutions Inc. grew its holdings in WPP by 1.2% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 17,402 shares of the business services provider's stock worth $894,000 after acquiring an additional 207 shares during the period. M&T Bank Corp grew its stake in shares of WPP by 1.9% in the 4th quarter. M&T Bank Corp now owns 12,506 shares of the business services provider's stock worth $642,000 after purchasing an additional 228 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in WPP by 2.5% during the fourth quarter. Jones Financial Companies Lllp now owns 10,231 shares of the business services provider's stock worth $526,000 after buying an additional 249 shares in the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 251 shares in the last quarter. Finally, HF Advisory Group LLC lifted its position in shares of WPP by 3.9% during the 4th quarter. HF Advisory Group LLC now owns 6,928 shares of the business services provider's stock valued at $356,000 after acquiring an additional 260 shares during the last quarter. Institutional investors own 4.34% of the company's stock.

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Analysts Set New Price Targets

WPP has been the topic of a number of recent research reports. Barclays cut WPP from an "overweight" rating to an "equal weight" rating in a report on Friday, February 28th. Kepler Capital Markets upgraded shares of WPP from a "hold" rating to a "buy" rating in a report on Friday, January 24th. Finally, 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. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

WPP Price Performance

WPP stock traded down $0.79 during mid-day trading on Thursday, hitting $36.74. The company's stock had a trading volume of 811,196 shares, compared to its average volume of 199,244. WPP plc has a 52-week low of $34.62 and a 52-week high of $57.37. The company has a market cap of $7.93 billion, a PE ratio of 6.15, a price-to-earnings-growth ratio of 7.06 and a beta of 1.20. The firm's 50 day moving average is $43.70 and its 200 day moving average is $48.72.

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 paid a $0.9728 dividend. This represents a yield of 6.2%. The ex-dividend date is Friday, June 6th. This is a positive change from WPP's previous semi-annual dividend of $0.95. WPP's dividend payout ratio is currently 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.