Balanced Rock Investment Advisors LLC Sells 6,688 Shares of WPP plc (NYSE:WPP)

Balanced Rock Investment Advisors LLC reduced its position in shares of WPP plc (NYSE:WPP) by 56.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,110 shares of the business services provider’s stock after selling 6,688 shares during the period. Balanced Rock Investment Advisors LLC’s holdings in WPP were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of WPP by 160.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,368 shares of the business services provider’s stock worth $173,000 after purchasing an additional 2,076 shares in the last quarter. Mariner LLC boosted its stake in shares of WPP by 4.2% in the fourth quarter. Mariner LLC now owns 74,476 shares of the business services provider’s stock valued at $3,828,000 after buying an additional 3,001 shares during the period. Invesco Ltd. boosted its stake in shares of WPP by 11.9% in the fourth quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider’s stock valued at $83,472,000 after buying an additional 172,212 shares during the period. Bank of Montreal Can grew its position in WPP by 20.4% during the fourth quarter. Bank of Montreal Can now owns 134,524 shares of the business services provider’s stock worth $6,915,000 after buying an additional 22,770 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in WPP by 57.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock worth $111,000 after acquiring an additional 787 shares during the period. 4.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

WPP Price Performance

Shares of WPP opened at $35.64 on Friday. The firm has a 50 day simple moving average of $40.54 and a two-hundred day simple moving average of $47.40. The company has a market cap of $7.69 billion, a P/E ratio of 5.97, a P/E/G ratio of 7.06 and a beta of 1.06. WPP plc has a one year low of $31.52 and a one year high of $57.37.

WPP Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a dividend yield of 6.2%. This is a boost from WPP’s previous semi-annual dividend of $0.95. WPP’s payout ratio is 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.