Bank of Montreal Can Acquires 22,770 Shares of WPP plc (NYSE:WPP)

Bank of Montreal Can lifted its stake in shares of WPP plc (NYSE:WPP - Free Report) by 20.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,524 shares of the business services provider's stock after purchasing an additional 22,770 shares during the quarter. Bank of Montreal Can owned 0.06% of WPP worth $6,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WPP. Assetmark Inc. grew its stake in shares of WPP by 52,800.0% during the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider's stock worth $27,000 after buying an additional 528 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 acquiring an additional 966 shares in the last quarter. GAMMA Investing LLC grew its position in WPP by 92.4% during the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider's stock worth $64,000 after acquiring an additional 599 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in WPP in the 3rd quarter worth about $84,000. Finally, Russell Investments Group Ltd. raised its position 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 purchasing an additional 787 shares during the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

WPP Stock Performance

Shares of WPP stock traded up $0.18 during mid-day trading on Friday, hitting $35.64. The company's stock had a trading volume of 300,546 shares, compared to its average volume of 200,567. WPP plc has a 52 week low of $31.52 and a 52 week high of $57.37. The company's fifty day simple moving average is $40.54 and its 200-day simple moving average is $47.40. The company has a market cap of $7.69 billion, a PE ratio of 5.97, a P/E/G ratio of 7.06 and a beta of 1.06.

WPP Increases Dividend

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