Jane Street Group LLC Invests $2.29 Million in WPP plc (NYSE:WPP)

Jane Street Group LLC acquired a new position in WPP plc (NYSE:WPP) during the fourth quarter, HoldingsChannel reports. The firm acquired 44,597 shares of the business services provider’s stock, valued at approximately $2,292,000.

Other large investors also recently modified their holdings of the company. Invesco Ltd. grew its stake in WPP by 11.9% during the 4th quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider’s stock valued at $83,472,000 after purchasing an additional 172,212 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in WPP during the 4th quarter valued at approximately $8,724,000. QRG Capital Management Inc. acquired a new stake in WPP during the 4th quarter valued at approximately $202,000. Sei Investments Co. grew its stake in WPP by 21.0% during the 4th quarter. Sei Investments Co. now owns 20,476 shares of the business services provider’s stock valued at $1,053,000 after purchasing an additional 3,551 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in WPP by 41.4% during the 4th quarter. HighTower Advisors LLC now owns 27,798 shares of the business services provider’s stock valued at $1,429,000 after purchasing an additional 8,140 shares in the last quarter. 4.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WPP. Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. StockNews.com downgraded WPP from a “buy” rating to a “hold” rating in a report on Thursday. Barclays downgraded WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group initiated coverage on WPP in a report on Wednesday, March 26th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

WPP Trading Down 0.5%

Shares of WPP stock opened at $40.09 on Friday. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 6.72, a P/E/G ratio of 7.06 and a beta of 1.04. WPP plc has a 1-year low of $31.52 and a 1-year high of $57.37. The stock’s fifty day simple moving average is $37.77 and its 200-day simple moving average is $45.62.

WPP Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 6th will be paid a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This is a positive change 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.