WPP plc (NYSE:WPP) Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of WPP plc (NYSE:WPP) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,093 shares of the business services provider’s stock after purchasing an additional 1,784 shares during the period. Bank of New York Mellon Corp’s holdings in WPP were worth $1,084,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WPP. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of WPP by 47.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock valued at $274,016,000 after buying an additional 1,734,750 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in WPP during the 3rd quarter valued at about $35,757,000. Stifel Financial Corp grew its stake in WPP by 67.6% during the 3rd quarter. Stifel Financial Corp now owns 55,963 shares of the business services provider’s stock valued at $2,863,000 after acquiring an additional 22,578 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of WPP by 66.1% in the third quarter. Quantinno Capital Management LP now owns 34,950 shares of the business services provider’s stock worth $1,788,000 after purchasing an additional 13,912 shares in the last quarter. Finally, Optas LLC purchased a new stake in shares of WPP in the fourth quarter worth approximately $234,000. 4.34% of the stock is owned by institutional investors and hedge funds.

WPP Stock Down 1.9 %

WPP stock opened at $39.58 on Tuesday. The firm has a 50 day moving average of $44.78 and a two-hundred day moving average of $49.31. WPP plc has a 12 month low of $38.90 and a 12 month high of $57.37. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 6.63, a P/E/G ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays lowered shares of WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 28th. Kepler Capital Markets raised WPP from a “hold” rating to a “buy” rating in a research note on Friday, January 24th.

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.