WPP (NYSE:WPP) Downgraded by Barclays to Equal Weight

Barclays downgraded shares of WPP (NYSE:WPP) from an overweight rating to an equal weight rating in a research note released on Friday morning, MarketBeat Ratings reports.

WPP has been the topic of a number of other reports. StockNews.com downgraded shares of WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th.

WPP Stock Down 1.2 %

NYSE WPP opened at $40.56 on Friday. WPP has a 12-month low of $40.14 and a 12-month high of $57.37. The company has a market capitalization of $8.75 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 7.06 and a beta of 1.25. The firm’s 50 day moving average is $47.69 and its 200-day moving average is $49.98.

WPP Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, July 4th. Investors of record on Friday, June 6th will be issued a dividend of $0.9728 per share. This represents a yield of 6.2%. This is an increase from WPP’s previous semi-annual dividend of $0.95. The ex-dividend date of this dividend is Friday, June 6th. WPP’s payout ratio is presently 32.50%.

Hedge Funds Weigh In On WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC boosted its position in WPP by 47.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock worth $274,016,000 after purchasing an additional 1,734,750 shares during the period. Invesco Ltd. boosted its position in WPP by 11.9% during the fourth quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider’s stock worth $83,472,000 after purchasing an additional 172,212 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of WPP in the third quarter valued at about $35,757,000. Dimensional Fund Advisors LP boosted its position in shares of WPP by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider’s stock valued at $24,928,000 after acquiring an additional 35,412 shares during the period. Finally, Northern Trust Corp boosted its position in shares of WPP by 83.5% in the fourth quarter. Northern Trust Corp now owns 253,640 shares of the business services provider’s stock valued at $13,037,000 after acquiring an additional 115,416 shares during the period. 4.34% of the stock is owned by institutional investors.

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.