Bruce G. Allen Investments LLC Sells 1,281 Shares of WPP plc (NYSE:WPP)

Bruce G. Allen Investments LLC lowered its stake in shares of WPP plc (NYSE:WPP) by 53.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,126 shares of the business services provider’s stock after selling 1,281 shares during the period. Bruce G. Allen Investments LLC’s holdings in WPP were worth $58,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of WPP by 45.3% in the 3rd quarter. GAMMA Investing LLC now owns 648 shares of the business services provider’s stock worth $33,000 after buying an additional 202 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of WPP by 767.1% in the 2nd quarter. Blue Trust Inc. now owns 737 shares of the business services provider’s stock worth $35,000 after buying an additional 652 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in WPP during the first quarter valued at about $39,000. Voisard Asset Management Group Inc. purchased a new position in WPP in the fourth quarter valued at about $45,000. Finally, EverSource Wealth Advisors LLC boosted its stake in WPP by 62.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 505 shares during the last quarter. 4.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on WPP shares. Citigroup upgraded WPP to a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com upgraded WPP from a “hold” rating to a “buy” rating in a research note on Sunday, September 8th.

WPP Price Performance

Shares of WPP stock opened at $50.29 on Friday. The company’s fifty day simple moving average is $48.10 and its two-hundred day simple moving average is $48.70. WPP plc has a 1 year low of $41.13 and a 1 year high of $54.21.

WPP Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.954 per share. This represents a yield of 5.7%. The ex-dividend date of this dividend is Friday, October 11th. This is a positive change from WPP’s previous Semi-Annual dividend of $0.24.

WPP Company Profile

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.