WPP plc (NYSE:WPP) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of WPP plc (NYSE:WPP) by 20.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,981 shares of the business services provider’s stock after purchasing an additional 2,688 shares during the period. Charles Schwab Investment Management Inc.’s holdings in WPP were worth $818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in WPP by 72.0% in the second quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider’s stock valued at $9,247,000 after buying an additional 80,102 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of WPP by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock worth $14,759,000 after purchasing an additional 63,363 shares during the period. Brandes Investment Partners LP raised its holdings in shares of WPP by 7.0% during the second quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider’s stock worth $30,232,000 after purchasing an additional 42,690 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of WPP in the 2nd quarter valued at about $1,860,000. Finally, Meritage Portfolio Management grew its position in shares of WPP by 72.8% during the 3rd quarter. Meritage Portfolio Management now owns 94,710 shares of the business services provider’s stock valued at $4,845,000 after buying an additional 39,894 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of WPP from a “buy” rating to a “hold” rating in a research report on Monday, November 18th.

WPP Price Performance

Shares of WPP opened at $52.78 on Thursday. WPP plc has a one year low of $43.02 and a one year high of $57.37. The company has a 50-day moving average of $53.21 and a two-hundred day moving average of $49.83. The stock has a market cap of $11.98 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 8.03 and a beta of 1.27.

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.