Royal Bank of Canada Lowers Stock Holdings in WPP PLC $WPP

Key Points

• Royal Bank of Canada reduced its shareholdings in WPP PLC by 3.6%, now owning approximately 0.17% of the company, valued at $13.9 million.
• WPP recently announced a semi-annual dividend of $0.5033 per share, with an impressive yield of 1,060.0%.
• Analysts have mixed opinions on WPP's stock, with ratings ranging from "Buy" to "Strong Sell," reflecting market uncertainty about the company's performance.

Royal Bank of Canada lowered its position in WPP PLC (NYSE:WPP - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 366,663 shares of the business services provider's stock after selling 13,853 shares during the period. Royal Bank of Canada owned about 0.17% of WPP worth $13,919,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Assetmark Inc. boosted its holdings in WPP by 88.3% during the first quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock worth $38,000 after purchasing an additional 467 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of WPP by 3,450.0% in the 1st quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock worth $73,000 after buying an additional 1,863 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of WPP in the first quarter valued at approximately $75,000. GAMMA Investing LLC increased its position in shares of WPP by 323.1% during the first quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider's stock valued at $200,000 after acquiring an additional 4,029 shares during the last quarter. Finally, Vident Advisory LLC increased its position in shares of WPP by 8.0% during the first quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider's stock valued at $235,000 after acquiring an additional 459 shares during the last quarter. 4.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WPP. Zacks Research downgraded WPP from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of WPP in a report on Thursday, July 10th. Kepler Capital Markets downgraded shares of WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of WPP from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Barclays restated an "underweight" rating on shares of WPP in a research note on Friday, August 8th. One investment 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, WPP presently has a consensus rating of "Reduce".

WPP Stock Performance

WPP traded down $0.38 on Tuesday, hitting $26.24. The company's stock had a trading volume of 380,657 shares, compared to its average volume of 349,976. WPP PLC has a 12 month low of $24.28 and a 12 month high of $57.37. The firm has a market cap of $5.66 billion, a P/E ratio of 4.40 and a beta of 0.97. 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 company's 50 day simple moving average is $26.99 and its 200-day simple moving average is $34.08.

WPP Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.5033 dividend. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 1,060.0%. 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.