Norges Bank Makes New $17.88 Million Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Norges Bank acquired a new position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 638,252 shares of the business services provider's stock, valued at approximately $17,884,000. Norges Bank owned about 0.17% of Interpublic Group of Companies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of IPG. West Oak Capital LLC increased its position in shares of 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 period. Allworth Financial LP boosted its position in Interpublic Group of Companies by 75.8% during the fourth 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. grew its holdings in Interpublic Group of Companies by 1.0% during the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider's stock worth $1,677,000 after acquiring an additional 587 shares during the period. Proactive Wealth Strategies LLC raised its position in shares of 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 acquiring an additional 607 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Interpublic Group of Companies by 5.8% in the 4th quarter. First Horizon Advisors Inc. now owns 11,507 shares of the business services provider's stock valued at $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 Stock Up 2.2 %

Shares of NYSE:IPG traded up $0.53 during mid-day trading on Friday, hitting $24.57. 4,549,684 shares of the company traded hands, compared to its average volume of 5,073,361. The stock has a 50-day moving average price of $26.44 and a two-hundred day moving average price of $28.40. The Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The stock has a market cap of $9.16 billion, a P/E ratio of 13.43 and a beta of 1.01. 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 posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (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%. On average, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.33 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 5.37%. Interpublic Group of Companies's dividend payout ratio (DPR) is 72.13%.

Interpublic Group of Companies announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IPG. UBS Group upgraded shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. BNP Paribas upgraded shares of 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. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and raised their target price for the company from $32.00 to $39.00 in a research note on Monday, January 27th. StockNews.com began coverage on Interpublic Group of Companies in a research note on Thursday. They set a "hold" rating on the stock. Finally, Argus cut Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.50.

Insider Transactions at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction 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 sale, the chief financial officer now directly owns 143,373 shares in the company, valued at $3,845,263.86. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.42% of the company's stock.

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.