Moran Wealth Management LLC Purchases New Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Moran Wealth Management LLC bought a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 141,805 shares of the business services provider's stock, valued at approximately $3,973,000.

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP increased its stake in Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after purchasing an additional 480 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Interpublic Group of Companies in the third quarter valued at approximately $32,000. OFI Invest Asset Management bought a new position in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $36,000. Brooklyn Investment Group acquired a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $60,000. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of Interpublic Group of Companies by 243,700.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider's stock worth $78,000 after purchasing an additional 2,437 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Insider Buying and Selling

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.42% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research report on Sunday, March 9th. They set a "hold" rating for the company. Barclays upgraded Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $32.00 to $36.00 in a report on Friday, January 24th. Argus lowered shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. UBS Group upgraded Interpublic Group of Companies from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, Wells Fargo & Company upgraded Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $33.50.

Interpublic Group of Companies Stock Up 1.4 %

NYSE IPG traded up $0.38 during trading on Friday, reaching $26.47. The company's stock had a trading volume of 10,903,843 shares, compared to its average volume of 4,541,903. The stock has a market capitalization of $9.86 billion, a PE ratio of 14.46 and a beta of 1.14. The business has a 50-day moving average price of $27.66 and a 200-day moving average price of $29.36. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 1-year low of $25.91 and a 1-year high of $35.17.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing the consensus estimate 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, research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to buyback $155.00 million in shares. This buyback authorization permits the business services provider to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.33 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 4.99%. Interpublic Group of Companies's dividend payout ratio (DPR) is 72.13%.

About Interpublic Group of Companies

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.