First Trust Direct Indexing L.P. Increases Stake in WPP plc (NYSE:WPP)

First Trust Direct Indexing L.P. increased its holdings in WPP plc (NYSE:WPP) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,551 shares of the business services provider’s stock after acquiring an additional 1,245 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in WPP were worth $359,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its stake in shares of WPP by 4.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 36,741 shares of the business services provider’s stock worth $1,638,000 after purchasing an additional 1,478 shares during the last quarter. Advisor Partners II LLC boosted its holdings in shares of WPP by 5.5% in the 3rd quarter. Advisor Partners II LLC now owns 8,337 shares of the business services provider’s stock valued at $372,000 after buying an additional 437 shares in the last quarter. Peoples Bank KS purchased a new position in shares of WPP in the 3rd quarter worth approximately $299,000. Eagle Global Advisors LLC raised its stake in shares of WPP by 4.9% during the 3rd quarter. Eagle Global Advisors LLC now owns 23,157 shares of the business services provider’s stock worth $1,032,000 after acquiring an additional 1,077 shares in the last quarter. Finally, M&T Bank Corp lifted its position in WPP by 7.7% during the third quarter. M&T Bank Corp now owns 11,801 shares of the business services provider’s stock valued at $526,000 after acquiring an additional 847 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Trading Up 0.3 %

Shares of WPP stock opened at $51.20 on Tuesday. The firm’s 50 day simple moving average is $47.22 and its two-hundred day simple moving average is $46.66. WPP plc has a 12-month low of $41.13 and a 12-month high of $57.30. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.86 and a current ratio of 0.86.

WPP Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be paid a $0.244 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a yield of 5.3%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com raised WPP from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. UBS Group downgraded WPP from a “buy” rating to a “sell” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.00.

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.