The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. boosted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 121.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,463 shares of the business services provider's stock after buying an additional 18,891 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Interpublic Group of Companies were worth $966,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in shares of 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 worth $31,000 after acquiring an additional 480 shares during the period. OFI Invest Asset Management purchased a new position in Interpublic Group of Companies during the 4th quarter worth $36,000. Brooklyn Investment Group bought a new stake in Interpublic Group of Companies during the 3rd quarter valued at $60,000. Transamerica Financial Advisors Inc. lifted its holdings in shares of Interpublic Group of Companies by 243,700.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider's stock worth $78,000 after buying an additional 2,437 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Interpublic Group of Companies during the 3rd quarter worth $107,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies 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 completion of the sale, the chief financial officer now 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.42% of the company's stock.

Remove Ads

Interpublic Group of Companies Stock Up 0.8 %

Interpublic Group of Companies stock traded up $0.21 during midday trading on Wednesday, reaching $26.50. The company's stock had a trading volume of 5,575,601 shares, compared to its average volume of 4,674,913. The Interpublic Group of Companies, Inc. has a 52-week low of $25.85 and a 52-week high of $33.05. The stock has a market capitalization of $9.87 billion, a P/E ratio of 14.48 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The stock's 50-day simple moving average is $27.49 and its 200-day simple moving average is $29.00.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 EPS 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, sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in shares. This repurchase authorization authorizes the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.98%. Interpublic Group of Companies's payout ratio is currently 72.13%.

Analysts Set New Price Targets

Several research firms recently weighed in on IPG. Wells Fargo & Company upgraded Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Barclays upgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $32.00 to $36.00 in a report on Friday, January 24th. Argus downgraded shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. UBS Group raised 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. Finally, BNP Paribas upgraded 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.