WPP plc (NYSE:WPP) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of WPP plc (NYSE:WPP - Free Report) by 15.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,110 shares of the business services provider's stock after purchasing an additional 27,384 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.09% of WPP worth $9,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPP. Oppenheimer Asset Management Inc. grew its stake 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 worth $1,592,000 after acquiring an additional 2,862 shares during the period. Caprock Group LLC acquired a new position in WPP in the second quarter valued at $294,000. Ceera Investments LLC acquired a new position in WPP in the second quarter valued at $459,000. Natixis Advisors LLC boosted its stake in WPP by 5.0% in the 2nd quarter. Natixis Advisors LLC now owns 62,632 shares of the business services provider's stock worth $2,867,000 after buying an additional 2,964 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in WPP in the 2nd quarter worth about $80,000. Hedge funds and other institutional investors own 4.34% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WPP shares. StockNews.com upgraded shares of WPP from a "hold" rating to a "buy" rating in a report on Sunday, September 8th. Citigroup raised shares of WPP to a "strong-buy" rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold".

WPP Stock Performance

WPP stock opened at $52.11 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.89 and a quick ratio of 0.86. The stock has a 50-day moving average price of $47.54 and a two-hundred day moving average price of $48.32. WPP plc has a 12-month low of $41.13 and a 12-month high of $54.21.

WPP Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 11th will be issued a dividend of $0.954 per share. The ex-dividend date is Friday, October 11th. This represents a dividend yield of 5.7%. This is a boost from WPP's previous Semi-Annual dividend of $0.24.

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.