Wpp Plc $WPP Holdings Reduced by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its WPP position by 67.8% in the first quarter, selling 326,069 shares and retaining 155,007 shares valued at approximately $2.41 million.
• WPP shares opened at $26.82, near their 52-week high of $27.78, after trading between $14.81 and $27.78 over the past year.
• Analyst sentiment remains mixed, with two Buy, three Hold and two Sell ratings, resulting in a MarketBeat consensus rating of Hold. WPP also declared a $0.5052 dividend per share.

Royal Bank of Canada lowered its position in Wpp Plc (NYSE:WPP - Free Report) by 67.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,007 shares of the business services provider's stock after selling 326,069 shares during the quarter. Royal Bank of Canada owned about 0.07% of WPP worth $2,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WPP. Cetera Investment Advisers grew its holdings in WPP by 9.2% in the 2nd quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider's stock worth $272,000 after buying an additional 654 shares in the last quarter. Osaic Holdings Inc. boosted its position in WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider's stock worth $49,000 after acquiring an additional 717 shares during the period. Ameriprise Financial Inc. boosted its position in WPP by 6.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,704 shares of the business services provider's stock worth $343,000 after acquiring an additional 776 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of WPP in the third quarter worth $28,000. Finally, Russell Investments Group Ltd. grew its stake in shares of WPP by 99.4% in the second quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider's stock worth $82,000 after purchasing an additional 1,173 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.

WPP Stock Performance

WPP opened at $26.82 on Monday. Wpp Plc has a one year low of $14.81 and a one year high of $27.78. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.87 and a quick ratio of 0.89. The stock's fifty day moving average is $19.55 and its 200-day moving average is $18.36.

WPP Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be given a $0.5052 dividend. The ex-dividend date is Friday, October 9th. This represents a yield of 390.0%.

Analysts Set New Price Targets

WPP has been the topic of a number of recent analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of WPP in a research note on Tuesday, June 16th. Citigroup reiterated a "neutral" rating on shares of WPP in a research report on Monday, August 10th. The Goldman Sachs Group assumed coverage on shares of WPP in a research note on Wednesday, June 3rd. They set a "sell" rating on the stock. Berenberg Bank assumed coverage on shares of WPP in a research report on Tuesday, June 9th. They set a "buy" rating on the stock. Finally, Rothschild & Co Redburn started coverage on shares of WPP in a research note on Thursday, May 28th. They issued a "buy" rating for the company. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold".

WPP Company Profile

WPP plc NYSE: WPP is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world's largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.

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