Magnetar Financial LLC Acquires 2,406,073 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Magnetar Financial LLC lifted its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 12,548.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,425,247 shares of the business services provider's stock after acquiring an additional 2,406,073 shares during the quarter. Interpublic Group of Companies accounts for about 1.6% of Magnetar Financial LLC's investment portfolio, making the stock its 13th largest holding. Magnetar Financial LLC owned 0.65% of Interpublic Group of Companies worth $67,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Stokes Family Office LLC bought a new stake in Interpublic Group of Companies in the 4th quarter worth approximately $255,000. Xponance Inc. boosted 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 worth $1,677,000 after buying an additional 587 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $1,496,000. Advisors Asset Management Inc. increased its position in Interpublic Group of Companies by 14.2% during the fourth quarter. Advisors Asset Management Inc. now owns 486,812 shares of the business services provider's stock valued at $13,640,000 after acquiring an additional 60,463 shares during the last quarter. Finally, Birnam Oak Advisors LP bought a new position in Interpublic Group of Companies in the fourth quarter valued at about $7,180,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

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Interpublic Group of Companies Price Performance

Shares of NYSE:IPG traded down $0.53 during midday trading on Monday, reaching $25.98. 9,517,009 shares of the company were exchanged, compared to its average volume of 4,677,629. The stock has a market cap of $9.68 billion, a PE ratio of 14.19 and a beta of 1.14. The business's fifty day moving average is $27.53 and its two-hundred day moving average is $29.08. The Interpublic Group of Companies, Inc. has a one year low of $25.85 and a one year high of $33.05. 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 issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing analysts' consensus estimates 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%. As a group, 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 of Directors has approved a stock repurchase plan 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 plans are generally a sign that the company's management believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 72.13%.

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 143,373 shares of the company's stock, valued at $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IPG shares. StockNews.com started coverage on shares of Interpublic Group of Companies in a research note on Monday, March 17th. They set a "hold" rating on the stock. JPMorgan Chase & Co. raised Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $32.00 to $39.00 in a report on Monday, January 27th. UBS Group raised Interpublic Group of Companies from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. BNP Paribas raised shares of Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 target price for the company in a report on Friday, January 10th. Finally, Barclays raised shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $32.00 to $36.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price 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.