US Bancorp DE Raises Stock Position in WPP plc (NYSE:WPP)

US Bancorp DE boosted its holdings in shares of WPP plc (NYSE:WPP) by 6.0% in the fourth quarter, HoldingsChannel reports. The firm owned 19,511 shares of the business services provider’s stock after buying an additional 1,096 shares during the period. US Bancorp DE’s holdings in WPP were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its stake in shares of WPP by 102.3% in the third quarter. Crossmark Global Holdings Inc. now owns 38,791 shares of the business services provider’s stock worth $1,984,000 after buying an additional 19,615 shares during the last quarter. Meritage Portfolio Management lifted its holdings in WPP by 72.8% in the third quarter. Meritage Portfolio Management now owns 94,710 shares of the business services provider’s stock valued at $4,845,000 after acquiring an additional 39,894 shares during the period. Apollon Wealth Management LLC purchased a new stake in WPP in the 3rd quarter worth approximately $203,000. MQS Management LLC acquired a new stake in shares of WPP during the 3rd quarter worth approximately $286,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of WPP by 0.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 35,068 shares of the business services provider’s stock valued at $1,794,000 after purchasing an additional 303 shares in the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. Finally, Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th.

WPP Stock Performance

NYSE:WPP opened at $41.57 on Monday. The stock has a market capitalization of $8.97 billion, a PE ratio of 6.96, a P/E/G ratio of 7.06 and a beta of 1.20. The company has a fifty day moving average of $46.49 and a two-hundred day moving average of $49.86. WPP plc has a fifty-two week low of $38.90 and a fifty-two week high of $57.37.

WPP Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 6th will be paid a $0.9728 dividend. This is an increase from WPP’s previous semi-annual dividend of $0.95. This represents a yield of 6.2%. The ex-dividend date of this dividend is Friday, June 6th. WPP’s dividend payout ratio is currently 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.