QRG Capital Management Inc. Makes New Investment in WPP plc (NYSE:WPP)

QRG Capital Management Inc. acquired a new position in WPP plc (NYSE:WPP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,930 shares of the business services provider’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also bought and sold shares of WPP. Hotchkis & Wiley Capital Management LLC raised its position in shares of WPP by 47.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock worth $274,016,000 after acquiring an additional 1,734,750 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of WPP in the 3rd quarter worth approximately $35,757,000. Meritage Portfolio Management raised its position in shares of WPP by 72.8% in the 3rd quarter. Meritage Portfolio Management now owns 94,710 shares of the business services provider’s stock worth $4,845,000 after acquiring an additional 39,894 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in shares of WPP by 2.4% in the 4th quarter. Gilman Hill Asset Management LLC now owns 81,212 shares of the business services provider’s stock worth $4,174,000 after acquiring an additional 1,865 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of WPP by 67.6% in the 3rd quarter. Stifel Financial Corp now owns 55,963 shares of the business services provider’s stock worth $2,863,000 after acquiring an additional 22,578 shares in the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Stock Up 3.1 %

WPP stock opened at $41.57 on Friday. WPP plc has a twelve month low of $38.90 and a twelve month high of $57.37. The firm has a market cap of $8.97 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 7.06 and a beta of 1.20. The business has a 50 day moving average of $46.49 and a 200 day moving average of $49.81.

WPP Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 6th will be given a dividend of $0.9728 per share. This represents a yield of 6.2%. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from WPP’s previous semi-annual dividend of $0.95. WPP’s dividend payout ratio (DPR) is 8.04%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WPP. Barclays lowered WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 28th. StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. Finally, Kepler Capital Markets raised WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th.

WPP 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.