Bruce G. Allen Investments LLC Takes Position in WPP plc (NYSE:WPP)

Bruce G. Allen Investments LLC purchased a new stake in shares of WPP plc (NYSE:WPPFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,330 shares of the business services provider’s stock, valued at approximately $111,000.

A number of other institutional investors have also recently made changes to their positions in WPP. Tower Research Capital LLC TRC lifted its position in shares of WPP by 187.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 617 shares of the business services provider’s stock valued at $25,000 after buying an additional 402 shares during the last quarter. CWM LLC increased its stake in WPP by 48.2% in the 3rd quarter. CWM LLC now owns 864 shares of the business services provider’s stock worth $39,000 after acquiring an additional 281 shares during the last quarter. Advisory Services Network LLC increased its stake in WPP by 166.8% in the 1st quarter. Advisory Services Network LLC now owns 675 shares of the business services provider’s stock worth $40,000 after acquiring an additional 422 shares during the last quarter. UMB Bank n.a. increased its stake in WPP by 54.0% in the 3rd quarter. UMB Bank n.a. now owns 973 shares of the business services provider’s stock worth $43,000 after acquiring an additional 341 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of WPP by 49.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 986 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPP has been the topic of several recent research reports. UBS Group lowered WPP from a “buy” rating to a “sell” rating in a research report on Thursday, January 11th. StockNews.com upgraded WPP from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. cut WPP from an “overweight” rating to a “neutral” rating in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, WPP has a consensus rating of “Hold” and an average target price of $46.00.

View Our Latest Report on WPP

WPP Trading Down 0.6 %

NYSE WPP opened at $44.55 on Tuesday. WPP plc has a fifty-two week low of $41.13 and a fifty-two week high of $60.37. The stock has a 50 day simple moving average of $47.23 and a two-hundred day simple moving average of $46.05.

WPP Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 7th will be given a $0.244 dividend. This represents a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, June 7th.

WPP Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for WPP (NYSE:WPP)

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