WPP (NYSE:WPP) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of WPP (NYSE:WPP) in a research note published on Wednesday, Marketbeat.com reports. The brokerage issued a neutral rating on the business services provider’s stock.

A number of other research analysts have also issued reports on WPP. Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

WPP Stock Down 1.2 %

NYSE:WPP opened at $38.41 on Wednesday. WPP has a 52 week low of $38.25 and a 52 week high of $57.37. The stock’s 50-day moving average price is $44.34 and its 200-day moving average price is $49.04. The stock has a market capitalization of $8.29 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

The firm 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 dividend of $0.9728 per share. This represents a yield of 6.2%. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from WPP’s previous semi-annual dividend of $0.95. WPP’s dividend payout ratio is currently 8.04%.

Institutional Investors Weigh In On WPP

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of WPP by 20.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,981 shares of the business services provider’s stock worth $818,000 after acquiring an additional 2,688 shares during the period. Cerity Partners LLC grew its stake in shares of WPP by 34.3% in the 3rd quarter. Cerity Partners LLC now owns 13,504 shares of the business services provider’s stock valued at $691,000 after buying an additional 3,452 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of WPP during the 3rd quarter worth approximately $35,757,000. Hantz Financial Services Inc. raised its position in shares of WPP by 2.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 41,755 shares of the business services provider’s stock valued at $2,136,000 after buying an additional 1,133 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in WPP by 22.5% in the third quarter. HighTower Advisors LLC now owns 19,658 shares of the business services provider’s stock valued at $1,001,000 after acquiring an additional 3,615 shares during the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

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.