Invesco Ltd. Raises Position in Wpp Plc (NYSE:WPP)

Key Points

• Invesco Ltd. increased its holdings in Wpp Plc by 50.8%, owning 2,448,296 shares valued at approximately $92.9 million.
• Wall Street analysts have issued a mixed review for WPP, with ratings ranging from sell to buy, resulting in a consensus rating of "Hold."
• WPP announced a semi-annual dividend of $0.5033 per share, with a yield of 1,060.0%, set to be paid on November 3rd.

Invesco Ltd. raised its holdings in shares of Wpp Plc (NYSE:WPP - Free Report) by 50.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,448,296 shares of the business services provider's stock after buying an additional 824,336 shares during the period. Invesco Ltd. owned about 1.13% of WPP worth $92,937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WPP. Stifel Financial Corp boosted its holdings in WPP by 0.4% during the 4th quarter. Stifel Financial Corp now owns 56,210 shares of the business services provider's stock valued at $2,889,000 after acquiring an additional 247 shares during the period. Assetmark Inc. boosted its stake in shares of WPP by 88.3% during the first quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock valued at $38,000 after purchasing an additional 467 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of WPP by 1.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider's stock worth $1,318,000 after purchasing an additional 498 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of WPP by 57.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock worth $111,000 after buying an additional 787 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in WPP by 160.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,368 shares of the business services provider's stock valued at $173,000 after buying an additional 2,076 shares during the last quarter. 4.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WPP shares. Wall Street Zen lowered shares of WPP from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Kepler Capital Markets cut WPP from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Barclays reaffirmed an "underweight" rating on shares of WPP in a research report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of WPP in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold".

WPP Trading Down 0.2%

NYSE:WPP opened at $25.46 on Friday. The company has a 50-day moving average price of $31.06 and a 200-day moving average price of $37.35. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 4.26 and a beta of 1.01. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13. Wpp Plc has a 12 month low of $24.28 and a 12 month high of $57.37.

WPP Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.5033 per share. This represents a yield of 1,060.0%. The ex-dividend date of this dividend is Friday, October 10th. WPP's payout ratio is presently 8.21%.

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.

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