EverSource Wealth Advisors LLC Raises Holdings in WPP plc (NYSE:WPP)

EverSource Wealth Advisors LLC raised its holdings in shares of WPP plc (NYSE:WPPGet Rating) by 219.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 902 shares of the business services provider’s stock after purchasing an additional 620 shares during the period. EverSource Wealth Advisors LLC’s holdings in WPP were worth $59,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Eaton Vance Management boosted its stake in WPP by 11.8% during the 4th quarter. Eaton Vance Management now owns 1,994 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 210 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of WPP by 34.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 977 shares of the business services provider’s stock worth $63,000 after buying an additional 251 shares during the last quarter. Ellevest Inc. boosted its stake in shares of WPP by 5.3% in the 1st quarter. Ellevest Inc. now owns 6,077 shares of the business services provider’s stock worth $398,000 after buying an additional 305 shares during the last quarter. Veriti Management LLC boosted its stake in shares of WPP by 4.2% in the 1st quarter. Veriti Management LLC now owns 8,027 shares of the business services provider’s stock worth $525,000 after buying an additional 325 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of WPP by 9.8% in the 1st quarter. Sei Investments Co. now owns 3,811 shares of the business services provider’s stock worth $250,000 after buying an additional 340 shares during the last quarter. 4.01% of the stock is currently owned by hedge funds and other institutional investors.

WPP Stock Down 0.4 %

NYSE:WPP opened at $43.66 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.91 and a quick ratio of 0.93. The business’s 50-day simple moving average is $48.24 and its two-hundred day simple moving average is $50.56. WPP plc has a 52 week low of $41.60 and a 52 week high of $83.69.

WPP Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 14th will be issued a dividend of $0.9052 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a yield of 4.2%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on WPP from GBX 1,330 ($16.07) to GBX 1,260 ($15.22) in a research note on Tuesday, July 19th. Credit Suisse Group lowered their target price on WPP from GBX 1,210 ($14.62) to GBX 950 ($11.48) in a research report on Monday, September 12th. Macquarie downgraded WPP from an “outperform” rating to a “neutral” rating in a research report on Thursday, June 23rd. UBS Group lowered their target price on WPP from GBX 1,500 ($18.12) to GBX 1,225 ($14.80) in a research report on Wednesday, July 20th. Finally, ING Group assumed coverage on WPP in a research report on Thursday, September 8th. They set a “buy” rating on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $904.29.

WPP Profile

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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.

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Institutional Ownership by Quarter for WPP (NYSE:WPP)

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