Invesco Ltd. Raises Stake in WPP plc (NYSE:WPP)

Invesco Ltd. boosted its holdings in WPP plc (NYSE:WPP - Free Report) by 11.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,623,960 shares of the business services provider's stock after purchasing an additional 172,212 shares during the quarter. Invesco Ltd. owned approximately 0.75% of WPP worth $83,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of WPP in the fourth quarter worth about $8,724,000. Bank of Montreal Can increased its stake in WPP by 20.4% in the 4th quarter. Bank of Montreal Can now owns 134,524 shares of the business services provider's stock worth $6,915,000 after acquiring an additional 22,770 shares during the last quarter. Gilman Hill Asset Management LLC raised its holdings in shares of WPP by 2.4% during the 4th quarter. Gilman Hill Asset Management LLC now owns 81,212 shares of the business services provider's stock worth $4,174,000 after acquiring an additional 1,865 shares in the last quarter. OLD Mission Capital LLC boosted its position in shares of WPP by 1,612.8% during the 4th quarter. OLD Mission Capital LLC now owns 76,306 shares of the business services provider's stock valued at $3,922,000 after acquiring an additional 71,851 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of WPP by 8.2% in the fourth quarter. Natixis Advisors LLC now owns 65,942 shares of the business services provider's stock valued at $3,389,000 after purchasing an additional 5,004 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors.

WPP Stock Up 0.5 %

NYSE:WPP traded up $0.18 during mid-day trading on Friday, hitting $35.64. 300,546 shares of the stock traded hands, compared to its average volume of 200,567. WPP plc has a 52 week low of $31.52 and a 52 week high of $57.37. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 7.06 and a beta of 1.06. The firm's 50 day moving average is $40.54 and its two-hundred day moving average is $47.40.

WPP Increases Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on WPP. Barclays cut shares of WPP from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 28th. The Goldman Sachs Group assumed coverage on WPP in a research report on Wednesday, March 26th. They set a "neutral" rating on the stock. Finally, Kepler Capital Markets raised WPP from a "hold" rating to a "buy" rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

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.