Raymond James & Associates Sells 2,035 Shares of WPP plc (NYSE:WPP)

Raymond James & Associates reduced its stake in shares of WPP plc (NYSE:WPP) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 183,419 shares of the business services provider’s stock after selling 2,035 shares during the period. Raymond James & Associates owned 0.09% of WPP worth $8,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mondrian Investment Partners LTD raised its position in shares of WPP by 46.5% during the first quarter. Mondrian Investment Partners LTD now owns 3,350,015 shares of the business services provider’s stock worth $158,791,000 after acquiring an additional 1,062,708 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of WPP by 40.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,155,648 shares of the business services provider’s stock worth $54,974,000 after purchasing an additional 332,914 shares during the period. Brandes Investment Partners LP boosted its stake in shares of WPP by 47.9% in the 4th quarter. Brandes Investment Partners LP now owns 567,653 shares of the business services provider’s stock valued at $27,003,000 after purchasing an additional 183,955 shares during the last quarter. Capital International Investors increased its position in shares of WPP by 4.9% during the first quarter. Capital International Investors now owns 125,589 shares of the business services provider’s stock worth $5,953,000 after buying an additional 5,902 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in WPP by 26.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 120,564 shares of the business services provider’s stock worth $5,715,000 after buying an additional 24,899 shares during the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WPP shares. StockNews.com downgraded WPP from a “buy” rating to a “hold” rating in a report on Monday. Citigroup upgraded WPP to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.00.

WPP Stock Up 0.0 %

WPP opened at $47.42 on Tuesday. The company has a fifty day moving average price of $46.67 and a two-hundred day moving average price of $48.00. WPP plc has a 1-year low of $41.13 and a 1-year high of $54.21. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.09.

WPP Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be given a $0.954 dividend. This represents a yield of 5.7%. This is a positive change from WPP’s previous Semi-Annual dividend of $0.24. The ex-dividend date is Friday, October 11th.

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.