Resona Asset Management Co. Ltd. bought a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 116,921 shares of the business services provider's stock, valued at approximately $3,278,000.
Several other large investors also recently added to or reduced their stakes in the stock. West Oak Capital LLC grew its holdings in Interpublic Group of Companies by 0.8% during the 4th quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider's stock worth $1,558,000 after acquiring an additional 435 shares in the last quarter. Allworth Financial LP increased its position in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after buying an additional 480 shares in the last quarter. Xponance Inc. raised its position in shares of Interpublic Group of Companies by 1.0% in the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider's stock valued at $1,677,000 after purchasing an additional 587 shares during the last quarter. Proactive Wealth Strategies LLC raised its holdings in shares of Interpublic Group of Companies by 5.8% in the fourth quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider's stock worth $311,000 after buying an additional 607 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Interpublic Group of Companies by 0.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 117,333 shares of the business services provider's stock worth $3,288,000 after acquiring an additional 611 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
IPG has been the topic of a number of recent research reports. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Thursday, April 10th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. Barclays upgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $32.00 to $36.00 in a research report on Friday, January 24th. Citigroup reaffirmed a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday. Finally, UBS Group raised Interpublic Group of Companies from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $29.00 to $27.00 in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $33.67.
Check Out Our Latest Analysis on Interpublic Group of Companies
Interpublic Group of Companies Price Performance
NYSE:IPG traded up $0.25 during trading hours on Tuesday, reaching $25.26. 1,026,648 shares of the company were exchanged, compared to its average volume of 5,068,193. The stock's 50-day moving average is $26.38 and its 200-day moving average is $28.33. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The firm has a market cap of $9.41 billion, a PE ratio of 13.81 and a beta of 1.01. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.
Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. On average, sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.
Interpublic Group of Companies Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.23%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies's payout ratio is currently 72.13%.
Interpublic Group of Companies announced that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in shares. This repurchase authorization authorizes the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.
Insider Transactions at Interpublic Group of Companies
In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the sale, the chief financial officer now directly owns 143,373 shares of the company's stock, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.42% of the company's stock.
About Interpublic Group of Companies
(
Free Report)
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.
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