JPMorgan Chase & Co. Boosts Stake in WPP PLC (WPPGY)
JPMorgan Chase & Co. raised its stake in WPP PLC (NASDAQ:WPPGY) by 41.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,996 shares of the business services provider’s stock after acquiring an additional 61,156 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.08% of WPP PLC worth $22,136,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of WPPGY. Huntington National Bank raised its holdings in WPP PLC by 62.6% in the 2nd quarter. Huntington National Bank now owns 1,179 shares of the business services provider’s stock valued at $124,000 after buying an additional 454 shares during the last quarter. Sei Investments Co. raised its holdings in WPP PLC by 10.8% in the 2nd quarter. Sei Investments Co. now owns 1,231 shares of the business services provider’s stock valued at $130,000 after buying an additional 120 shares during the last quarter. Simplex Trading LLC raised its holdings in WPP PLC by 58.6% in the 2nd quarter. Simplex Trading LLC now owns 1,473 shares of the business services provider’s stock valued at $155,000 after buying an additional 544 shares during the last quarter. Capital One National Association bought a new position in WPP PLC in the 2nd quarter valued at approximately $244,000. Finally, Checchi Capital Advisers LLC raised its holdings in WPP PLC by 7.5% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,021 shares of the business services provider’s stock valued at $318,000 after buying an additional 212 shares during the last quarter. 3.80% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on WPPGY shares. BidaskClub lowered shares of WPP PLC from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Zacks Investment Research upgraded shares of WPP PLC from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. BNP Paribas lowered shares of WPP PLC from an “outperform” rating to an “underperform” rating in a report on Friday, July 7th. ValuEngine lowered shares of WPP PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Deutsche Bank AG downgraded shares of WPP PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $121.50.
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Shares of WPP PLC (NASDAQ WPPGY) opened at 93.55 on Thursday. The firm has a market cap of $23.69 billion, a P/E ratio of 10.64 and a beta of 1.21. The stock’s 50 day moving average is $96.65 and its 200 day moving average is $104.17. WPP PLC has a 12 month low of $89.40 and a 12 month high of $121.06.
WPP PLC (NASDAQ:WPPGY) last posted its earnings results on Wednesday, August 23rd. The business services provider reported $3.02 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.02. Equities research analysts expect that WPP PLC will post $9.39 EPS for the current year.
The firm also recently announced a semiannual dividend, which will be paid on Monday, November 6th. Stockholders of record on Friday, October 6th will be paid a dividend of $1.4532 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a dividend yield of 3.15%.
WPP PLC Company Profile
WPP PLC is a parent company that, through its subsidiaries, is engaged in the provision of communications and marketing services worldwide. The Company has four segments: Advertising and Media Investment Management; Consumer Insight (formerly Information, Insight & Consultancy); Public Relations & Public Affairs, and Branding & Identity, Healthcare and Specialist Communications, which includes WPP Digital and direct, digital, promotional and relationship marketing.
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