The Manufacturers Life Insurance Company Lowers Stock Position in WPP plc (NYSE:WPP)

The Manufacturers Life Insurance Company decreased its position in shares of WPP plc (NYSE:WPP - Free Report) by 70.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 209,721 shares of the business services provider's stock after selling 489,210 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of WPP worth $10,780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WPP. Assetmark Inc. lifted its holdings in WPP by 52,800.0% in the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider's stock valued at $27,000 after buying an additional 528 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of WPP by 453.5% during the 4th 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. GAMMA Investing LLC grew its stake in WPP by 92.4% during the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider's stock worth $64,000 after purchasing an additional 599 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in WPP in the third quarter worth approximately $84,000. Finally, Russell Investments Group Ltd. lifted its stake in WPP by 57.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock valued at $111,000 after buying an additional 787 shares during the period. Institutional investors and hedge funds own 4.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WPP. Kepler Capital Markets upgraded shares of WPP from a "hold" rating to a "buy" rating in a research note on Friday, January 24th. Barclays downgraded shares of WPP from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group began coverage on shares of WPP in a research report on Wednesday, March 26th. They set a "neutral" rating on the stock. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, WPP has a consensus rating of "Moderate Buy".

WPP Trading Up 1.2 %

NYSE WPP traded up $0.48 during mid-day trading on Friday, hitting $39.36. The company's stock had a trading volume of 203,406 shares, compared to its average volume of 206,588. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 7.06 and a beta of 1.04. The company's 50 day simple moving average is $37.81 and its 200 day simple moving average is $45.94. WPP plc has a twelve month low of $31.52 and a twelve month high of $57.37.

WPP Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.9728 per share. This is a boost from WPP's previous semi-annual dividend of $0.95. This represents a dividend yield of 6.2%. The ex-dividend date is Friday, June 6th. WPP's dividend payout ratio (DPR) is currently 8.04%.

About WPP

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.