ClearAlpha Technologies LP Makes New $2.66 Million Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

ClearAlpha Technologies LP bought a new position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 95,000 shares of the business services provider's stock, valued at approximately $2,662,000. Interpublic Group of Companies accounts for 1.8% of ClearAlpha Technologies LP's portfolio, making the stock its 14th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Allworth Financial LP grew its holdings 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 during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter valued at $36,000. GeoWealth Management LLC boosted its stake in shares of Interpublic Group of Companies by 20.7% during the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock valued at $94,000 after acquiring an additional 573 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Interpublic Group of Companies in the 3rd quarter valued at about $107,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Interpublic Group of Companies in the 4th quarter valued at about $141,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Stock Down 2.0 %

Shares of NYSE:IPG traded down $0.50 during midday trading on Friday, hitting $24.58. 4,953,737 shares of the company's stock traded hands, compared to its average volume of 5,129,840. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The company has a market cap of $9.16 billion, a PE ratio of 13.43 and a beta of 1.01. The firm's fifty day moving average price is $25.83 and its two-hundred day moving average price is $27.94.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. On average, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

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

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.37%. Interpublic Group of Companies's dividend payout ratio is presently 72.13%.

Insider Buying and Selling

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company's stock in a transaction dated 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 owns 143,373 shares in the company, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.42% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on IPG shares. Citigroup reaffirmed a "buy" rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and upped their target price for the company from $32.00 to $39.00 in a research note on Monday, January 27th. StockNews.com began coverage on Interpublic Group of Companies in a research note on Saturday. They issued a "hold" rating on the stock. UBS Group raised shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Finally, Argus cut shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of "Hold" and a consensus price target of $33.44.

Interpublic Group of Companies 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.