WPP plc (NYSE:WPP) Shares Acquired by Meritage Portfolio Management

Meritage Portfolio Management boosted its holdings in WPP plc (NYSE:WPP) by 210.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,399 shares of the business services provider’s stock after acquiring an additional 40,254 shares during the period. Meritage Portfolio Management’s holdings in WPP were worth $2,826,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cetera Trust Company N.A acquired a new stake in WPP during the 4th quarter worth approximately $148,000. Signaturefd LLC grew its holdings in shares of WPP by 10.3% during the fourth quarter. Signaturefd LLC now owns 9,451 shares of the business services provider’s stock worth $450,000 after purchasing an additional 881 shares during the last quarter. Center for Financial Planning Inc. lifted its stake in WPP by 8.3% in the fourth quarter. Center for Financial Planning Inc. now owns 6,666 shares of the business services provider’s stock valued at $317,000 after buying an additional 513 shares during the last quarter. Cerity Partners LLC boosted its stake in WPP by 46.2% during the 4th quarter. Cerity Partners LLC now owns 7,763 shares of the business services provider’s stock worth $369,000 after purchasing an additional 2,453 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of WPP during the fourth quarter worth about $1,150,000. Institutional investors and hedge funds own 4.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on WPP. StockNews.com raised WPP from a “hold” rating to a “buy” rating in a report on Friday, March 1st. UBS Group cut WPP from a “buy” rating to a “sell” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.00.

WPP Stock Down 0.3 %

WPP stock traded down $0.14 during mid-day trading on Thursday, hitting $50.11. 366,131 shares of the company were exchanged, compared to its average volume of 173,980. The firm has a fifty day simple moving average of $46.77 and a 200 day simple moving average of $46.28. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86. WPP plc has a twelve month low of $41.13 and a twelve month high of $59.70.

WPP Cuts Dividend

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

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.