Jane Street Group LLC Takes $2.29 Million Position in WPP plc (NYSE:WPP)

Jane Street Group LLC bought a new position in shares of WPP plc (NYSE:WPP - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 44,597 shares of the business services provider's stock, valued at approximately $2,292,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Invesco Ltd. increased its position in shares of WPP by 11.9% during the fourth quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider's stock valued at $83,472,000 after acquiring an additional 172,212 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of WPP by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider's stock valued at $24,928,000 after purchasing an additional 35,412 shares during the last quarter. Northern Trust Corp raised its stake in shares of WPP by 83.5% during the 4th quarter. Northern Trust Corp now owns 253,640 shares of the business services provider's stock worth $13,037,000 after purchasing an additional 115,416 shares during the period. Raymond James Financial Inc. purchased a new position in shares of WPP in the 4th quarter worth about $8,724,000. Finally, Optiver Holding B.V. grew its position in WPP by 104.6% during the fourth quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider's stock valued at $7,272,000 after buying an additional 72,342 shares during the period. Institutional investors and hedge funds own 4.34% of the company's stock.

WPP Stock Down 0.4%

NYSE WPP traded down $0.17 during trading hours on Wednesday, reaching $40.34. The company's stock had a trading volume of 51,791 shares, compared to its average volume of 212,443. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 7.06 and a beta of 1.04. WPP plc has a 1 year low of $31.52 and a 1 year high of $57.37. The firm's 50-day moving average price is $37.74 and its 200-day moving average price is $45.30.

WPP Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 6th will be paid a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This represents a dividend yield of 6.2%. This is an increase from WPP's previous semi-annual dividend of $0.95. WPP's dividend payout ratio is currently 8.04%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WPP. Barclays cut shares of WPP from an "overweight" rating to an "equal weight" rating in a report on Friday, February 28th. Kepler Capital Markets raised shares of WPP from a "hold" rating to a "buy" rating in a research report on Friday, January 24th. StockNews.com downgraded WPP from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group started coverage on shares of WPP in a report on Wednesday, March 26th. They issued a "neutral" rating for the company. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, WPP presently has a consensus rating of "Moderate Buy".

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.