Victory Capital Management Inc. lowered its stake in shares of WPP plc (NYSE:WPP – Free Report) by 34.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,071 shares of the business services provider’s stock after selling 6,861 shares during the quarter. Victory Capital Management Inc.’s holdings in WPP were worth $683,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the company. Spire Wealth Management boosted its position in WPP by 23.6% in the first quarter. Spire Wealth Management now owns 1,006 shares of the business services provider’s stock valued at $60,000 after buying an additional 192 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in WPP by 4.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,930 shares of the business services provider’s stock valued at $249,000 after buying an additional 210 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in WPP by 3.5% in the first quarter. First Trust Direct Indexing L.P. now owns 6,453 shares of the business services provider’s stock valued at $384,000 after buying an additional 217 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in WPP by 34.6% in the first quarter. Geneos Wealth Management Inc. now owns 977 shares of the business services provider’s stock valued at $63,000 after buying an additional 251 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position in WPP by 3.7% in the first quarter. Brown Advisory Inc. now owns 7,558 shares of the business services provider’s stock valued at $450,000 after buying an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on WPP shares. Deutsche Bank Aktiengesellschaft lowered WPP from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a research report on Monday. BNP Paribas lowered WPP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, September 20th. The Goldman Sachs Group lowered WPP from a “buy” rating to a “neutral” rating in a research report on Thursday, September 28th. Finally, Bank of America lowered their price objective on WPP to $46.00 in a research report on Wednesday, September 20th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $732.50.
WPP Trading Up 1.0 %
Shares of NYSE:WPP opened at $43.44 on Thursday. WPP plc has a 1 year low of $41.13 and a 1 year high of $64.07. The business’s 50 day moving average price is $45.37 and its 200-day moving average price is $50.53.
WPP Cuts Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Friday, November 3rd. Stockholders of record on Friday, October 13th will be issued a dividend of $0.9536 per share. This represents a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, October 12th.
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.
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