Amundi Boosts Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Amundi grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 133.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,402,201 shares of the business services provider's stock after purchasing an additional 3,089,387 shares during the quarter. Amundi owned approximately 1.45% of Interpublic Group of Companies worth $150,393,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Empirical Finance LLC boosted its position in Interpublic Group of Companies by 1.3% during the third quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider's stock valued at $1,031,000 after acquiring an additional 409 shares during the last quarter. West Oak Capital LLC boosted its position in shares of 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 valued at $1,558,000 after purchasing an additional 435 shares in the last quarter. Allworth Financial LP grew 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 worth $31,000 after purchasing an additional 480 shares during the period. Proactive Wealth Strategies LLC increased its holdings in 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 purchasing an additional 607 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Interpublic Group of Companies by 5.8% during the 4th quarter. First Horizon Advisors Inc. now owns 11,507 shares of the business services provider's stock worth $322,000 after buying an additional 630 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

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Interpublic Group of Companies Stock Up 1.4 %

NYSE:IPG traded up $0.38 during trading hours on Friday, hitting $26.47. 10,903,843 shares of the company traded hands, compared to its average volume of 4,541,903. The Interpublic Group of Companies, Inc. has a one year low of $25.91 and a one year high of $35.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market cap of $9.86 billion, a PE ratio of 14.46 and a beta of 1.14. The firm's 50-day simple moving average is $27.66 and its 200-day simple moving average is $29.36.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly 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%. Equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies's payout ratio is 72.13%.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IPG. Barclays upgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Argus lowered shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. BNP Paribas upgraded Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 target price for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. raised Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. Finally, Wells Fargo & Company upgraded Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $33.50.

Insider Buying and Selling

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by corporate insiders.

Interpublic Group of Companies Company Profile

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.