Renaissance Technologies LLC Invests $458,000 in WPP plc (NYSE:WPP)

Renaissance Technologies LLC acquired a new stake in WPP plc (NYSE:WPP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,000 shares of the business services provider’s stock, valued at approximately $458,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in WPP by 24.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock valued at $14,759,000 after acquiring an additional 63,363 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in WPP by 15.9% during the second quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock worth $9,115,000 after buying an additional 27,384 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in WPP by 9.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,765 shares of the business services provider’s stock valued at $1,592,000 after buying an additional 2,862 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of WPP in the 2nd quarter worth $294,000. Finally, Ceera Investments LLC purchased a new position in shares of WPP during the 2nd quarter worth $459,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WPP. StockNews.com raised shares of WPP from a “hold” rating to a “buy” rating in a research note on Sunday, September 8th. Citigroup upgraded WPP to a “strong-buy” rating in a research report on Thursday, August 8th.

WPP Stock Performance

WPP stock opened at $50.29 on Friday. The firm has a 50 day moving average price of $48.10 and a 200 day moving average price of $48.70. WPP plc has a fifty-two week low of $41.13 and a fifty-two week high of $54.21. The company has a market capitalization of $11.42 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 7.29 and a beta of 1.29.

WPP Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 11th will be given a dividend of $0.954 per share. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 11th. This is a boost from WPP’s previous Semi-Annual dividend of $0.24. WPP’s dividend payout ratio is currently 52.02%.

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.