WPP plc (NYSE:WPP) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can lifted its stake in WPP plc (NYSE:WPP - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,524 shares of the business services provider's stock after purchasing an additional 22,770 shares during the quarter. Bank of Montreal Can owned about 0.06% of WPP worth $6,915,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WPP. Raymond James Financial Inc. purchased a new position in WPP during the fourth quarter worth about $8,724,000. OLD Mission Capital LLC lifted its holdings in WPP by 1,612.8% in the fourth quarter. OLD Mission Capital LLC now owns 76,306 shares of the business services provider's stock valued at $3,922,000 after acquiring an additional 71,851 shares during the last quarter. Stifel Financial Corp grew its position in WPP by 67.6% in the third quarter. Stifel Financial Corp now owns 55,963 shares of the business services provider's stock worth $2,863,000 after acquiring an additional 22,578 shares during the period. StoneX Group Inc. purchased a new position in WPP in the fourth quarter worth approximately $956,000. Finally, Callan Family Office LLC purchased a new stake in WPP in the fourth quarter valued at $569,000. Hedge funds and other institutional investors own 4.34% of the company's stock.

WPP Stock Performance

Shares of WPP traded up $0.09 during mid-day trading on Tuesday, hitting $36.42. 277,003 shares of the company's stock were exchanged, compared to its average volume of 201,525. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 6.10, a P/E/G ratio of 7.06 and a beta of 1.06. The stock's 50-day moving average is $41.07 and its 200-day moving average is $47.59. WPP plc has a fifty-two week low of $31.52 and a fifty-two week high of $57.37.

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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. This is a boost from WPP's previous semi-annual dividend of $0.95. This represents a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, June 6th. WPP's dividend payout ratio (DPR) is presently 8.04%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WPP. Kepler Capital Markets raised WPP from a "hold" rating to a "buy" rating in a research report 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. Finally, The Goldman Sachs Group initiated coverage on WPP in a research report on Wednesday, March 26th. They issued a "neutral" rating on the stock. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.