Fifth Third Bancorp Has $156,000 Stock Position in WPP plc (NYSE:WPP)

Fifth Third Bancorp increased its position in shares of WPP plc (NYSE:WPP) by 70.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,286 shares of the business services provider’s stock after buying an additional 1,357 shares during the quarter. Fifth Third Bancorp’s holdings in WPP were worth $156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in shares of WPP by 187.0% in the third quarter. Tower Research Capital LLC TRC now owns 617 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 402 shares in the last quarter. Advisory Services Network LLC raised its position in shares of WPP by 166.8% in the first quarter. Advisory Services Network LLC now owns 675 shares of the business services provider’s stock worth $40,000 after buying an additional 422 shares in the last quarter. CWM LLC raised its position in shares of WPP by 48.2% in the third quarter. CWM LLC now owns 864 shares of the business services provider’s stock worth $39,000 after buying an additional 281 shares in the last quarter. UMB Bank n.a. raised its position in shares of WPP by 54.0% in the third quarter. UMB Bank n.a. now owns 973 shares of the business services provider’s stock worth $43,000 after buying an additional 341 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of WPP by 34.6% in the first quarter. Geneos Wealth Management Inc. now owns 977 shares of the business services provider’s stock worth $63,000 after buying an additional 251 shares in the last quarter. 4.34% of the stock is owned by institutional investors.

WPP Price Performance

Shares of NYSE:WPP opened at $47.91 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. WPP plc has a 12-month low of $41.13 and a 12-month high of $60.37. The stock’s 50-day moving average price is $46.92 and its 200-day moving average price is $45.97.

WPP Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be paid a $0.244 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a dividend yield of 5.3%.

Analyst Upgrades and Downgrades

WPP has been the topic of a number of recent analyst reports. StockNews.com upgraded WPP from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. downgraded WPP from an “overweight” rating to a “neutral” rating in a research report on Wednesday, December 13th. Finally, UBS Group downgraded WPP from a “buy” rating to a “sell” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.00.

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.