PNC Financial Services Group Inc. acquired a new stake in shares of Wpp Plc (NYSE:WPP) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 60,980 shares of the business services provider’s stock, valued at approximately $4,469,000.

A number of other institutional investors have also recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of WPP during the first quarter valued at approximately $536,000. Northern Trust Corp grew 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 purchasing an additional 27,084 shares during the last quarter. Manning & Napier Group LLC grew its stake in shares of WPP by 4.8% during the third quarter. Manning & Napier Group LLC now owns 17,001 shares of the business services provider’s stock valued at $1,245,000 after purchasing an additional 777 shares during the last quarter. Sky Investment Group LLC bought a new stake in shares of WPP during the third quarter valued at approximately $1,075,000. Finally, Bank of Montreal Can grew its stake in shares of WPP by 18.5% during the third quarter. Bank of Montreal Can now owns 101,915 shares of the business services provider’s stock valued at $7,467,000 after purchasing an additional 15,937 shares during the last quarter. 4.64% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on the stock. ValuEngine raised shares of WPP from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 23rd. Zacks Investment Research cut shares of WPP from a “buy” rating to a “sell” rating in a research note on Friday, September 7th. Pivotal Research upgraded shares of WPP from a “hold” rating to a “buy” rating in a report on Thursday, October 25th. Finally, Kepler Capital Markets restated a “hold” rating on shares of WPP in a report on Friday, October 26th. Five 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’s stock. The company has an average rating of “Hold” and a consensus target price of $107.00.

Shares of NYSE WPP opened at $53.14 on Thursday. Wpp Plc has a fifty-two week low of $53.03 and a fifty-two week high of $103.53. The company has a market capitalization of $13.43 billion, a P/E ratio of 6.85, a price-to-earnings-growth ratio of 6.79 and a beta of 1.29.

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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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Institutional Ownership by Quarter for WPP (NYSE:WPP)

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