WPP PLC $WPP Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in WPP Plc by 11.6% during Q1, owning approximately 283,028 shares worth $10.7 million.
• WPP announced a semi-annual dividend of $0.5033 per share, resulting in a yield of 1,060.0%, despite a low dividend payout ratio of 8.21%.
• Equities analysts issued mixed ratings on WPP, with Zacks Research downgrading it to a "strong sell" while others maintained or downgraded existing ratings.

Northern Trust Corp raised its position in WPP PLC (NYSE:WPP - Free Report) by 11.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 283,028 shares of the business services provider's stock after purchasing an additional 29,388 shares during the period. Northern Trust Corp owned 0.13% of WPP worth $10,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of WPP. Assetmark Inc. grew its position in shares of WPP by 88.3% in the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock valued at $38,000 after buying an additional 467 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of WPP by 1.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider's stock valued at $1,318,000 after buying an additional 498 shares during the last quarter. Brooklyn Investment Group grew its position in shares of WPP by 3,450.0% in the 1st quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock valued at $73,000 after buying an additional 1,863 shares during the last quarter. GAMMA Investing LLC grew its position in shares of WPP by 323.1% in the 1st quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider's stock valued at $200,000 after buying an additional 4,029 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of WPP in the 4th quarter valued at $309,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WPP has been the topic of a number of recent analyst reports. Barclays reaffirmed an "underweight" rating on shares of WPP in a research report on Friday, August 8th. Kepler Capital Markets downgraded shares of WPP from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of WPP from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of WPP in a research report on Thursday, July 10th. Finally, Zacks Research downgraded shares of WPP from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce".

WPP Stock Performance

WPP stock traded down $0.42 during midday trading on Wednesday, hitting $26.87. 302,040 shares of the company's stock were exchanged, compared to its average volume of 363,148. WPP PLC has a 12-month low of $24.28 and a 12-month 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 $5.80 billion, a price-to-earnings ratio of 4.50 and a beta of 0.97. The firm's 50 day simple moving average is $27.72 and its 200 day simple moving average is $34.67.

WPP Cuts Dividend

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

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.