Signaturefd LLC Lowers Stock Holdings in WPP PLC $WPP

Signaturefd LLC trimmed its holdings in shares of WPP PLC (NYSE:WPP) by 19.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,787 shares of the business services provider’s stock after selling 886 shares during the period. Signaturefd LLC’s holdings in WPP were worth $133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WPP. Hotchkis & Wiley Capital Management LLC increased its position in shares of WPP by 27.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 6,720,858 shares of the business services provider’s stock valued at $255,124,000 after acquiring an additional 1,436,668 shares in the last quarter. Invesco Ltd. increased its position in shares of WPP by 50.8% during the first quarter. Invesco Ltd. now owns 2,448,296 shares of the business services provider’s stock valued at $92,937,000 after acquiring an additional 824,336 shares in the last quarter. Range Financial Group LLC bought a new stake in shares of WPP during the second quarter valued at approximately $1,560,000. Northern Trust Corp increased its position in shares of WPP by 11.6% during the first quarter. Northern Trust Corp now owns 283,028 shares of the business services provider’s stock valued at $10,744,000 after acquiring an additional 29,388 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of WPP by 604.0% during the first quarter. Campbell & CO Investment Adviser LLC now owns 33,708 shares of the business services provider’s stock valued at $1,280,000 after acquiring an additional 28,920 shares in the last quarter. Institutional investors own 4.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WPP. Kepler Capital Markets downgraded shares of WPP from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Saturday, September 27th. Zacks Research downgraded shares of WPP from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 21st. Barclays reaffirmed an “underweight” rating on shares of WPP in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded shares of WPP from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

WPP Stock Up 2.5%

Shares of WPP stock opened at $24.90 on Friday. The stock has a market cap of $5.37 billion, a P/E ratio of 4.17 and a beta of 0.95. WPP PLC has a 52 week low of $23.43 and a 52 week high of $57.37. The company’s fifty day simple moving average is $25.97 and its two-hundred day simple moving average is $32.70.

WPP Cuts Dividend

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

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.