Vestmark Advisory Solutions Inc. Boosts Stock Holdings in WPP PLC $WPP

Key Points

• Vestmark Advisory Solutions Inc. has increased its stake in WPP PLC by 101.0% in the first quarter, now owning nearly 35,000 shares worth approximately $1.33 million.
• Analyst ratings for WPP show a consensus of "Hold," with some brokerages downgrading the stock to "sell" and others maintaining a "buy" rating.
• The company is set to pay a semi-annual dividend of $0.5033 per share on November 3rd, with a surprisingly high yield of 1,060.0% noted.

Vestmark Advisory Solutions Inc. increased its position in WPP PLC (NYSE:WPP - Free Report) by 101.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,978 shares of the business services provider's stock after purchasing an additional 17,576 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in WPP were worth $1,328,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Gilman Hill Asset Management LLC grew its stake in shares of 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 acquiring an additional 12,330 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in WPP by 120.2% in the 1st 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 shares of WPP in the fourth quarter worth $2,292,000. ABC Arbitrage SA purchased a new position in shares of WPP in the first quarter valued at about $382,000. Finally, Optiver Holding B.V. increased its holdings in shares of 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 last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Stock Performance

Shares of WPP stock traded up $0.65 on Friday, reaching $27.05. 233,304 shares of the stock were exchanged, compared to its average volume of 371,604. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13. The business has a fifty day moving average price of $30.16 and a two-hundred day moving average price of $36.76. WPP PLC has a 1-year low of $24.28 and a 1-year high of $57.37. The firm has a market capitalization of $5.84 billion, a PE ratio of 4.53 and a beta of 1.01.

WPP Cuts Dividend

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

Analyst Ratings Changes

WPP has been the topic of several analyst reports. Wall Street Zen cut WPP from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Barclays restated an "underweight" rating on shares of WPP in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of WPP in a research note on Thursday, July 10th. Finally, Kepler Capital Markets lowered shares of WPP from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently 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.