Interpublic Group of Companies (NYSE:IPG) Stock Price Up 4.9% - Here's What Happened

The Interpublic Group of Companies, Inc. (NYSE:IPG - Get Free Report) shares were up 4.9% during trading on Monday . The stock traded as high as $29.39 and last traded at $29.55. Approximately 1,295,411 shares changed hands during trading, a decline of 77% from the average daily volume of 5,593,542 shares. The stock had previously closed at $28.18.

Wall Street Analysts Forecast Growth

IPG has been the topic of several recent analyst reports. UBS Group upgraded shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and cut their price objective for the company from $29.00 to $27.00 in a report on Thursday, February 13th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Sunday, March 9th. They set a "hold" rating on the stock. BNP Paribas upgraded shares of Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price objective for the company in a research note on Friday, January 10th. Wells Fargo & Company raised Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of "Hold" and an average price target of $33.50.

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Interpublic Group of Companies Trading Up 1.1 %

The firm has a market cap of $9.83 billion, a PE ratio of 14.44 and a beta of 1.14. The company has a 50-day simple moving average of $27.66 and a 200 day simple moving average 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.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced 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%. As a group, sell-side 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.33 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.00%. Interpublic Group of Companies's dividend payout ratio (DPR) is 72.13%.

Interpublic Group of Companies declared that its board has authorized a stock repurchase 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the transaction, the chief financial officer now owns 143,373 shares of the company's stock, valued at $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPG. Allworth Financial LP raised its position in shares of Interpublic Group of Companies by 75.8% in the fourth 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. Ashton Thomas Securities LLC purchased a new stake in Interpublic Group of Companies during the 3rd quarter valued at about $32,000. OFI Invest Asset Management acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at about $36,000. Raiffeisen Bank International AG purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $42,000. Finally, Brooklyn Investment Group acquired a new position in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $60,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

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.