JPMorgan Chase & Co. Buys 10,197 Shares of WPP plc (NYSE:WPP)

JPMorgan Chase & Co. raised its position in shares of WPP plc (NYSE:WPP - Free Report) by 184.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,729 shares of the business services provider's stock after purchasing an additional 10,197 shares during the period. JPMorgan Chase & Co.'s holdings in WPP were worth $808,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of WPP in the 4th quarter worth about $8,724,000. Callan Family Office LLC acquired a new stake in WPP during the fourth quarter worth approximately $569,000. HighTower Advisors LLC boosted its holdings in shares of WPP by 41.4% during the 4th quarter. HighTower Advisors LLC now owns 27,798 shares of the business services provider's stock worth $1,429,000 after buying an additional 8,140 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of WPP by 8.2% during the 4th quarter. Natixis Advisors LLC now owns 65,942 shares of the business services provider's stock worth $3,389,000 after buying an additional 5,004 shares in the last quarter. Finally, Optas LLC acquired a new stake in shares of WPP during the 4th quarter worth approximately $234,000. 4.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

WPP Stock Down 0.7 %

WPP stock traded down $0.28 during midday trading on Thursday, reaching $38.28. 262,732 shares of the company's stock traded hands, compared to its average volume of 202,477. The firm's fifty day moving average price is $38.49 and its 200-day moving average price is $46.54. WPP plc has a 52 week low of $31.52 and a 52 week high of $57.37. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 6.41, a P/E/G ratio of 7.06 and a beta of 1.06.

WPP Increases Dividend

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

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.