Sei Investments Co. Raises Stock Holdings in Wpp Plc $WPP

Sei Investments Co. boosted its position in shares of Wpp Plc (NYSE:WPP) by 115.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,528 shares of the business services provider’s stock after buying an additional 26,031 shares during the quarter. Sei Investments Co.’s holdings in WPP were worth $755,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC grew its holdings in WPP by 0.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider’s stock worth $255,164,000 after acquiring an additional 47,289 shares during the last quarter. Mondrian Investment Partners LTD raised its stake in shares of WPP by 1.5% during the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider’s stock valued at $72,775,000 after acquiring an additional 48,714 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of WPP by 12.3% during the third quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock worth $21,555,000 after purchasing an additional 94,162 shares during the period. Royal Bank of Canada boosted its holdings in shares of WPP by 7.5% during the fourth quarter. Royal Bank of Canada now owns 481,076 shares of the business services provider’s stock worth $10,805,000 after purchasing an additional 33,433 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of WPP by 10.8% in the second quarter. Bank of America Corp DE now owns 470,900 shares of the business services provider’s stock worth $16,486,000 after purchasing an additional 45,866 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Trading Up 0.4%

NYSE:WPP opened at $26.99 on Friday. Wpp Plc has a one year low of $14.81 and a one year high of $27.78. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.87 and a quick ratio of 0.89. The company’s 50-day simple moving average is $19.37 and its 200 day simple moving average is $18.33.

WPP Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be issued a dividend of $0.5052 per share. This represents a dividend yield of 390.0%. The ex-dividend date is Friday, October 9th.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WPP. The Goldman Sachs Group began coverage on WPP in a report on Wednesday, June 3rd. They set a “sell” rating on the stock. Citigroup reiterated a “neutral” rating on shares of WPP in a research report on Monday. Berenberg Bank initiated coverage on WPP in a research note on Tuesday, June 9th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. Finally, Rothschild & Co Redburn began coverage on shares of WPP in a report on Thursday, May 28th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, WPP has an average rating of “Hold”.

About WPP

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.