Ethic Inc. Has $648,000 Holdings in WPP PLC $WPP

Key Points

• Ethic Inc. significantly reduced its stake in WPP Plc, decreasing holdings by 63.1% to 17,895 shares, valued at $648,000, following the sale of 30,539 shares in the first quarter.
• Several hedge funds increased their investments in WPP, with Assetmark Inc. raising its stake by 88.3%, reflecting a growing institutional interest.
• WPP announced a semi-annual dividend of $0.5033 per share, resulting in a notable dividend yield of 1,060.0%, despite a decrease in stock ratings from various analysts.

Ethic Inc. lessened its holdings in WPP PLC (NYSE:WPP - Free Report) by 63.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,895 shares of the business services provider's stock after selling 30,539 shares during the quarter. Ethic Inc.'s holdings in WPP were worth $648,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of WPP by 184.3% in the 4th quarter. JPMorgan Chase & Co. now owns 15,729 shares of the business services provider's stock valued at $808,000 after buying an additional 10,197 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in WPP by 57.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock worth $111,000 after buying an additional 787 shares during the period. NewEdge Advisors LLC raised its holdings in WPP by 160.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,368 shares of the business services provider's stock worth $173,000 after buying an additional 2,076 shares during the period. First Trust Advisors LP acquired a new stake in WPP during the 4th quarter worth approximately $309,000. Finally, Dimensional Fund Advisors LP raised its holdings in WPP by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider's stock worth $24,928,000 after buying an additional 35,412 shares during the period. Institutional investors own 4.34% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays restated an "underweight" rating on shares of WPP in a report on Friday, August 8th. Kepler Capital Markets downgraded shares of WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a report on Thursday, July 10th. Wall Street Zen downgraded shares of WPP from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Zacks Research downgraded shares of WPP from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, WPP has an average rating of "Reduce".

WPP Stock Down 1.5%

Shares of NYSE:WPP traded down $0.41 during midday trading on Tuesday, hitting $26.33. The stock had a trading volume of 243,450 shares, compared to its average volume of 492,721. WPP PLC has a 12 month low of $24.28 and a 12 month high of $57.37. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. The business's 50-day simple moving average is $29.58 and its 200-day simple moving average is $36.23. The company has a market cap of $5.68 billion, a P/E ratio of 4.41 and a beta of 1.01.

WPP Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.5033 per share. This represents a yield of 1,060.0%. The ex-dividend date of this dividend is Friday, October 10th. WPP's payout ratio is 8.21%.

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.