The Interpublic Group of Companies, Inc. (NYSE:IPG - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $25.85 and last traded at $26.59, with a volume of 8928740 shares. The stock had previously closed at $26.23.
Wall Street Analysts Forecast Growth
IPG has been the subject of several recent analyst reports. Wells Fargo & Company raised Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. UBS Group upgraded shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Barclays upgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. Argus cut shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, StockNews.com began coverage on shares of Interpublic Group of Companies in a report on Monday. They issued a "hold" rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of "Hold" and a consensus price target of $33.50.
Get Our Latest Research Report on Interpublic Group of Companies
Interpublic Group of Companies Trading Up 0.1 %
The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The stock's 50-day moving average is $27.53 and its two-hundred day moving average is $29.11. The company has a market cap of $9.88 billion, a P/E ratio of 14.48 and a beta of 1.14.
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 (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%. As a group, equities research analysts predict 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 announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.33 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 4.98%. Interpublic Group of Companies's payout ratio is 72.13%.
Interpublic Group of Companies declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $155.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership 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 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 completion of the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at $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 available at this link. Company insiders own 0.42% of the company's stock.
Hedge Funds Weigh In On Interpublic Group of Companies
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board lifted its position in shares of Interpublic Group of Companies by 139.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider's stock valued at $370,157,000 after buying an additional 7,693,636 shares in the last quarter. Pacer Advisors Inc. raised its stake in Interpublic Group of Companies by 25,637.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider's stock worth $207,439,000 after acquiring an additional 7,374,491 shares during the period. State Street Corp lifted its holdings in Interpublic Group of Companies by 15.1% during the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider's stock valued at $943,993,000 after purchasing an additional 3,920,975 shares in the last quarter. Amundi lifted its holdings in Interpublic Group of Companies by 133.6% during the fourth quarter. Amundi now owns 5,402,201 shares of the business services provider's stock valued at $150,393,000 after purchasing an additional 3,089,387 shares in the last quarter. Finally, Magnetar Financial LLC boosted its position in shares of Interpublic Group of Companies by 12,548.6% in the fourth quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider's stock worth $67,955,000 after purchasing an additional 2,406,073 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.
Interpublic Group of Companies Company Profile
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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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