WPP plc (NYSE:WPP) Stake Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in WPP plc (NYSE:WPP) by 184.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,729 shares of the business services provider’s stock after acquiring 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 quarter.

Several other large investors also recently made changes to their positions in the company. Assetmark Inc. increased its stake in shares of WPP by 52,800.0% during the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 528 shares during the period. Smartleaf Asset Management LLC grew its position in WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock worth $61,000 after buying an additional 966 shares during the last quarter. GAMMA Investing LLC grew its position in WPP by 92.4% during the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after purchasing an additional 599 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in WPP during the 3rd quarter worth approximately $84,000. Finally, Wealthfront Advisers LLC purchased a new position in WPP during the 4th quarter worth approximately $194,000. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Stock Up 1.6 %

Shares of WPP opened at $37.69 on Tuesday. WPP plc has a twelve month low of $31.52 and a twelve month high of $57.37. The company has a 50 day moving average of $38.86 and a 200-day moving average of $46.65. The stock has a market capitalization of $8.13 billion, a P/E ratio of 6.31, a P/E/G ratio of 7.06 and a beta of 1.06.

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 issued a dividend of $0.9728 per share. The ex-dividend date of this dividend 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 (DPR) is currently 8.04%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WPP. Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. The Goldman Sachs Group initiated coverage on WPP in a report on Wednesday, March 26th. They issued a “neutral” rating on the stock. Finally, Kepler Capital Markets raised WPP from a “hold” rating to a “buy” rating in a report 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’s stock. According to data from MarketBeat.com, 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.