HighTower Advisors LLC Buys 8,140 Shares of WPP plc (NYSE:WPP)

HighTower Advisors LLC raised its position in shares of WPP plc (NYSE:WPP) by 41.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,798 shares of the business services provider’s stock after purchasing an additional 8,140 shares during the period. HighTower Advisors LLC’s holdings in WPP were worth $1,429,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC boosted its position in WPP by 47.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock valued at $274,016,000 after buying an additional 1,734,750 shares during the period. The Manufacturers Life Insurance Company bought a new position in WPP during the 3rd quarter worth approximately $35,757,000. Raymond James Financial Inc. purchased a new position in WPP in the 4th quarter worth approximately $8,724,000. Gilman Hill Asset Management LLC lifted its position in WPP by 2.4% in the fourth quarter. Gilman Hill Asset Management LLC now owns 81,212 shares of the business services provider’s stock valued at $4,174,000 after purchasing an additional 1,865 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of WPP by 67.6% during the third quarter. Stifel Financial Corp now owns 55,963 shares of the business services provider’s stock valued at $2,863,000 after purchasing an additional 22,578 shares during the period. Institutional investors own 4.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WPP. Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 28th.

WPP Stock Performance

WPP opened at $39.58 on Tuesday. The stock’s 50 day moving average price is $44.78 and its 200-day moving average price is $49.31. WPP plc has a 52-week low of $38.90 and a 52-week high of $57.37. The stock has a market capitalization of $8.54 billion, a PE ratio of 6.63, a price-to-earnings-growth ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 6th will be issued a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This is a positive change from WPP’s previous semi-annual dividend of $0.95. This represents a yield of 6.2%. WPP’s dividend payout ratio is 8.04%.

WPP 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.