Invesco Ltd. Raises Stock Position in WPP PLC $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. boosted its holdings in WPP PLC (NYSE:WPP - Free Report) by 50.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,448,296 shares of the business services provider's stock after purchasing an additional 824,336 shares during the quarter. Invesco Ltd. owned about 1.13% of WPP worth $92,937,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gilman Hill Asset Management LLC grew its holdings in WPP by 15.2% in the first quarter. Gilman Hill Asset Management LLC now owns 93,542 shares of the business services provider's stock worth $3,551,000 after purchasing an additional 12,330 shares during the period. Bank of New York Mellon Corp grew its holdings in WPP by 120.2% in the first quarter. Bank of New York Mellon Corp now owns 46,452 shares of the business services provider's stock worth $1,763,000 after purchasing an additional 25,359 shares during the period. Jane Street Group LLC purchased a new stake in WPP in the fourth quarter worth about $2,292,000. ABC Arbitrage SA purchased a new stake in WPP in the first quarter worth about $382,000. Finally, Optiver Holding B.V. grew its holdings in WPP by 104.6% in the fourth quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider's stock worth $7,272,000 after purchasing an additional 72,342 shares during the period. Hedge funds and other institutional investors own 4.34% of the company's stock.

WPP Stock Down 0.4%

Shares of NYSE:WPP traded down $0.0990 during trading on Thursday, reaching $26.4210. 394,291 shares of the stock traded hands, compared to its average volume of 500,149. The stock has a 50-day moving average of $30.16 and a two-hundred day moving average of $36.76. WPP PLC has a 52-week low of $24.28 and a 52-week high of $57.37. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a market cap of $5.70 billion, a P/E ratio of 4.43 and a beta of 1.01.

WPP Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.5033 dividend. The ex-dividend date is Friday, October 10th. This represents a yield of 1,060.0%. WPP's dividend payout ratio (DPR) is currently 8.21%.

Wall Street Analysts Forecast Growth

WPP has been the topic of a number of recent research reports. Wall Street Zen cut shares of WPP from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a report on Thursday, July 10th. Kepler Capital Markets cut shares of WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Barclays reiterated an "underweight" rating on shares of WPP in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

WPP 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.