StoneX Group Inc. Purchases Shares of 18,598 WPP plc (NYSE:WPP)

StoneX Group Inc. acquired a new position in WPP plc (NYSE:WPP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 18,598 shares of the business services provider’s stock, valued at approximately $956,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPP. Assetmark Inc. increased its stake in WPP by 52,800.0% in the 4th quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock worth $27,000 after purchasing an additional 528 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock worth $61,000 after buying an additional 966 shares during the period. GAMMA Investing LLC raised its holdings in WPP by 92.4% during the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock valued at $64,000 after buying an additional 599 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in WPP during the 3rd quarter valued at $84,000. Finally, Wealthfront Advisers LLC bought a new stake in WPP in the 4th quarter worth $194,000. Institutional investors own 4.34% of the company’s stock.

Analyst Ratings Changes

WPP has been the subject of several recent analyst reports. Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. The Goldman Sachs Group assumed coverage on WPP in a research report on Wednesday, March 26th. They issued a “neutral” rating on the stock. Finally, Barclays downgraded WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

WPP Price Performance

WPP stock opened at $36.29 on Wednesday. WPP plc has a 1 year low of $34.62 and a 1 year high of $57.37. The firm has a 50-day moving average of $44.01 and a 200 day moving average of $48.89. The company has a market cap of $7.83 billion, a P/E ratio of 6.08, a PEG ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

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

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.