Cerity Partners LLC grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 282,850 shares of the business services provider's stock after purchasing an additional 14,696 shares during the quarter. Cerity Partners LLC owned about 0.08% of Interpublic Group of Companies worth $7,969,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Interpublic Group of Companies by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider's stock valued at $362,538,000 after acquiring an additional 511,607 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Interpublic Group of Companies by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 9,531,530 shares of the business services provider's stock worth $266,614,000 after purchasing an additional 81,996 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Interpublic Group of Companies by 25,637.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider's stock valued at $207,439,000 after buying an additional 7,374,491 shares during the last quarter. Amundi raised its stake in shares of Interpublic Group of Companies by 133.6% in the fourth quarter. Amundi now owns 5,402,201 shares of the business services provider's stock worth $150,393,000 after purchasing an additional 3,089,387 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Interpublic Group of Companies by 7.8% in the 4th quarter. Bank of New York Mellon Corp now owns 4,271,759 shares of the business services provider's stock valued at $119,695,000 after buying an additional 310,621 shares during the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
IPG has been the subject of several recent research reports. Argus downgraded Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $32.00 to $39.00 in a report on Monday, January 27th. StockNews.com started coverage on shares of Interpublic Group of Companies in a report on Thursday, April 10th. They set a "hold" rating for the company. BNP Paribas raised Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target for the company in a research report on Friday, January 10th. Finally, Citigroup reissued a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $33.67.
Get Our Latest Research Report on Interpublic Group of Companies
Insider Buying and Selling at Interpublic Group of Companies
In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the company's stock in a transaction 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 owns 143,373 shares of the company's stock, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by corporate insiders.
Interpublic Group of Companies Stock Performance
Interpublic Group of Companies stock traded down $1.85 during midday trading on Wednesday, hitting $23.29. 7,600,024 shares of the company's stock were exchanged, compared to its average volume of 5,102,927. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 12.73 and a beta of 1.01. The Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The firm's 50 day simple moving average is $26.33 and its 200 day simple moving average is $28.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.
Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its 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%. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.
Interpublic Group of Companies Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 5.67%. Interpublic Group of Companies's payout ratio is currently 72.13%.
Interpublic Group of Companies declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.
Interpublic Group of Companies Profile
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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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