Kingsview Wealth Management LLC Makes New Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kingsview Wealth Management LLC acquired a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 322,664 shares of the business services provider's stock, valued at approximately $9,041,000. Kingsview Wealth Management LLC owned approximately 0.09% of Interpublic Group of Companies at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its position 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 worth $943,993,000 after acquiring an additional 3,920,975 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Interpublic Group of Companies by 240.9% during the third quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider's stock worth $913,000 after buying an additional 20,395 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Interpublic Group of Companies by 2,679.9% during the third quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider's stock worth $965,000 after purchasing an additional 29,425 shares during the last quarter. ING Groep NV bought a new position in Interpublic Group of Companies in the 3rd quarter valued at approximately $1,589,000. Finally, Bridgewater Associates LP lifted its position in shares of Interpublic Group of Companies by 956.5% in the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider's stock worth $3,313,000 after purchasing an additional 94,821 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Down 1.4 %

NYSE IPG traded down $0.38 during trading on Wednesday, reaching $26.79. 7,017,893 shares of the company's stock were exchanged, compared to its average volume of 4,951,173. 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 company has a 50 day moving average price of $28.44 and a two-hundred day moving average price of $29.92. The stock has a market cap of $9.98 billion, a P/E ratio of 12.64 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 1 year low of $26.30 and a 1 year high of $35.17.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. On average, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current fiscal year.

Interpublic Group of Companies announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.93%. Interpublic Group of Companies's payout ratio is 62.26%.

Analyst Ratings Changes

A number of equities analysts have issued reports on IPG shares. Wells Fargo & Company raised shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $32.00 to $39.00 in a research report on Monday, January 27th. Barclays upgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $32.00 to $36.00 in a research report on Friday, January 24th. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research report on Wednesday, February 5th. They issued a "hold" rating on the stock. Finally, Macquarie reiterated a "neutral" rating and set a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $33.75.

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.