HighTower Advisors LLC Buys 8,140 Shares of WPP plc (NYSE:WPP)

HighTower Advisors LLC lifted its stake in WPP plc (NYSE:WPP) by 41.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,798 shares of the business services provider’s stock after buying an additional 8,140 shares during the quarter. HighTower Advisors LLC’s holdings in WPP were worth $1,429,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of WPP by 20.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,981 shares of the business services provider’s stock valued at $818,000 after purchasing an additional 2,688 shares in the last quarter. Cerity Partners LLC lifted its stake in WPP by 34.3% during the 3rd quarter. Cerity Partners LLC now owns 13,504 shares of the business services provider’s stock valued at $691,000 after acquiring an additional 3,452 shares during the period. The Manufacturers Life Insurance Company bought a new position in WPP during the 3rd quarter valued at about $35,757,000. Hantz Financial Services Inc. grew its stake in shares of WPP by 2.8% in the third quarter. Hantz Financial Services Inc. now owns 41,755 shares of the business services provider’s stock worth $2,136,000 after acquiring an additional 1,133 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of WPP by 47.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock worth $274,016,000 after acquiring an additional 1,734,750 shares during the period. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Trading Down 1.9 %

WPP opened at $39.58 on Tuesday. The firm’s 50 day simple moving average is $44.78 and its two-hundred day simple moving average is $49.31. The company has a market capitalization of $8.54 billion, a PE ratio of 6.63, a PEG ratio of 7.06 and a beta of 1.20. WPP plc has a 1-year low of $38.90 and a 1-year high of $57.37.

WPP Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 6th will be issued a $0.9728 dividend. This is a boost 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 (DPR) is currently 8.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays downgraded WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 28th. Kepler Capital Markets raised WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th.

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.