KLP Kapitalforvaltning AS acquired a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 215,715 shares of the business services provider's stock, valued at approximately $6,044,000. KLP Kapitalforvaltning AS owned about 0.06% of Interpublic Group of Companies at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Interpublic Group of Companies by 15.1% in 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 during the last quarter. Assetmark Inc. grew its holdings in Interpublic Group of Companies by 3.0% in the 4th quarter. Assetmark Inc. now owns 42,496 shares of the business services provider's stock valued at $1,191,000 after buying an additional 1,238 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Interpublic Group of Companies by 240.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider's stock worth $913,000 after acquiring an additional 20,395 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Interpublic Group of Companies by 69.5% during the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider's stock worth $204,000 after acquiring an additional 2,991 shares during the period. Finally, Bridgewater Associates LP boosted its position in shares of Interpublic Group of Companies by 956.5% during the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider's stock valued at $3,313,000 after acquiring an additional 94,821 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
IPG has been the topic of a number of analyst reports. Wells Fargo & Company raised shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised shares of 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. BNP Paribas upgraded 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 report on Friday, January 10th. UBS Group upgraded Interpublic Group of Companies from a "sell" rating to a "neutral" rating and reduced their target price for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. Finally, StockNews.com assumed coverage on Interpublic Group of Companies in a research note on Tuesday. They issued a "hold" rating on the stock. One equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.50.
View Our Latest Stock Report on IPG
Insider Buying and Selling at Interpublic Group of Companies
In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is currently owned by corporate insiders.
Interpublic Group of Companies Trading Down 0.4 %
Shares of NYSE IPG traded down $0.11 during trading on Friday, reaching $26.29. The stock had a trading volume of 5,081,165 shares, compared to its average volume of 4,908,623. The business's 50-day moving average price is $27.40 and its 200-day moving average price is $28.92. The Interpublic Group of Companies, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $33.05. 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 market cap of $9.80 billion, a P/E ratio of 14.37 and a beta of 1.14.
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 for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. On average, equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.
Interpublic Group of Companies Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 5.02%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 72.13%.
Interpublic Group of Companies announced that its board has authorized a share 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.
About Interpublic Group of Companies
(
Free Report)
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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