Klingenstein Fields & Co. LLC acquired a new stake in shares of Wpp Plc (NYSE:WPP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,024 shares of the business services provider’s stock, valued at approximately $222,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Northern Trust Corp increased its stake in shares of WPP by 2.2% during the second quarter. Northern Trust Corp now owns 1,277,076 shares of the business services provider’s stock valued at $100,352,000 after acquiring an additional 27,084 shares during the period. First Trust Advisors LP acquired a new position in shares of WPP during the third quarter valued at approximately $23,467,000. Dimensional Fund Advisors LP acquired a new position in shares of WPP during the first quarter valued at approximately $16,006,000. Massachusetts Financial Services Co. MA acquired a new position in shares of WPP during the third quarter valued at approximately $9,170,000. Finally, Aperio Group LLC acquired a new position in shares of WPP during the third quarter valued at approximately $9,023,000. Institutional investors and hedge funds own 5.11% of the company’s stock.
WPP stock opened at $58.83 on Friday. The company has a market capitalization of $14.31 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 7.18 and a beta of 1.12. Wpp Plc has a 1 year low of $54.92 and a 1 year high of $103.53.
The firm also recently declared a semiannual dividend, which will be paid on Monday, November 5th. Shareholders of record on Friday, October 5th will be given a $1.4595 dividend. This is a positive change from WPP’s previous semiannual dividend of $1.45. The ex-dividend date of this dividend is Thursday, October 4th. This represents a yield of 3.93%. WPP’s payout ratio is 38.66%.
A number of research analysts recently commented on WPP shares. Kepler Capital Markets reiterated a “hold” rating on shares of WPP in a research note on Friday, October 26th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of WPP in a research note on Monday, July 23rd. Zacks Investment Research lowered shares of WPP from a “buy” rating to a “sell” rating in a research report on Friday, September 7th. Pivotal Research upgraded shares of WPP from a “hold” rating to a “buy” rating in a research report on Thursday, October 25th. Finally, ValuEngine upgraded shares of WPP from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 23rd. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. WPP currently has an average rating of “Hold” and a consensus target price of $107.00.
WPP Company Profile
WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding Consulting, Health & Wellness and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.
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