Royal Bank of Canada Sells 413,255 Shares of WPP plc (NYSE:WPP)

Royal Bank of Canada cut its stake in shares of WPP plc (NYSE:WPP - Free Report) by 52.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 380,516 shares of the business services provider's stock after selling 413,255 shares during the period. Royal Bank of Canada owned about 0.18% of WPP worth $19,558,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in shares of WPP by 52,800.0% in the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider's stock worth $27,000 after acquiring an additional 528 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider's stock valued at $61,000 after purchasing an additional 966 shares in the last quarter. Russell Investments Group Ltd. increased its position in WPP by 57.0% in the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock worth $111,000 after purchasing an additional 787 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of 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 purchasing an additional 2,076 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in shares of WPP during the 4th quarter valued at about $194,000. Institutional investors and hedge funds own 4.34% of the company's stock.

WPP Stock Down 0.1%

WPP stock traded down $0.05 during mid-day trading on Friday, reaching $40.51. The company had a trading volume of 42,360 shares, compared to its average volume of 215,982. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 7.06 and a beta of 1.04. The company has a 50 day moving average of $37.73 and a 200-day moving average of $44.66. WPP plc has a 52 week low of $31.52 and a 52 week high of $57.37.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of WPP from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Barclays downgraded 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 shares of WPP in a report on Wednesday, March 26th. They issued a "neutral" rating for the company. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, WPP has a consensus rating of "Moderate Buy".

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.