WPP (NYSE:WPP) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of WPP (NYSE:WPP) from a buy rating to a hold rating in a report released on Monday morning.

Separately, Citigroup raised shares of WPP to a “strong-buy” rating in a report on Thursday, August 8th.

WPP Trading Down 1.6 %

Shares of WPP stock opened at $52.44 on Monday. WPP has a twelve month low of $42.49 and a twelve month high of $54.45. The stock has a 50 day moving average of $50.16 and a 200 day moving average of $49.20.

WPP Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be paid a $0.954 dividend. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 11th. This is a positive change from WPP’s previous Semi-Annual dividend of $0.24.

Hedge Funds Weigh In On WPP

A number of hedge funds have recently bought and sold shares of WPP. Price T Rowe Associates Inc. MD raised its stake in shares of WPP by 26.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 120,564 shares of the business services provider’s stock worth $5,715,000 after buying an additional 24,899 shares during the period. Envestnet Asset Management Inc. raised 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 acquiring an additional 27,384 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in WPP during the first quarter valued at $39,000. Oppenheimer Asset Management Inc. grew its position in shares of WPP by 9.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 34,765 shares of the business services provider’s stock valued at $1,592,000 after purchasing an additional 2,862 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of WPP by 72.0% during the second quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider’s stock worth $9,247,000 after purchasing an additional 80,102 shares in the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

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.