Kiker Wealth Management LLC Invests $613,000 in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kiker Wealth Management LLC purchased a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 21,890 shares of the business services provider's stock, valued at approximately $613,000.

Several other institutional investors have also made changes to their positions in the company. West Oak Capital LLC increased its position in Interpublic Group of Companies by 0.8% during the fourth quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider's stock worth $1,558,000 after buying an additional 435 shares during the last quarter. Allworth Financial LP increased its holdings in shares of 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 acquiring an additional 480 shares during the last quarter. Xponance Inc. raised its stake in shares of Interpublic Group of Companies by 1.0% in the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider's stock valued at $1,677,000 after acquiring an additional 587 shares in the last quarter. Proactive Wealth Strategies LLC lifted its holdings in Interpublic Group of Companies by 5.8% in the 4th 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 during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Interpublic Group of Companies by 5.8% during the fourth quarter. First Horizon Advisors Inc. now owns 11,507 shares of the business services provider's stock worth $322,000 after purchasing an additional 630 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

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Interpublic Group of Companies Trading Up 1.3 %

Shares of NYSE:IPG traded up $0.35 during trading on Tuesday, hitting $26.28. 6,813,586 shares of the company's stock were exchanged, compared to its average volume of 4,670,182. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a market cap of $9.79 billion, a P/E ratio of 14.36 and a beta of 1.14. The firm has a 50-day moving average price of $27.51 and a two-hundred day moving average price of $29.04. The Interpublic Group of Companies, Inc. has a 1-year low of $25.85 and a 1-year high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Wednesday, February 12th. The business services provider reported $1.11 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 analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies declared that its board has authorized a stock buyback plan 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.02%. Interpublic Group of Companies's dividend payout ratio is 72.13%.

Insider Buying and Selling

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the company's stock in a transaction on Monday, March 3rd. The shares were 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 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 filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group upgraded shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. BNP Paribas raised Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price objective on the stock in a report on Friday, January 10th. Barclays raised shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $32.00 to $36.00 in a report on Friday, January 24th. Argus cut Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $26.00 to $34.00 in a research 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $33.50.

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.