Proficio Capital Partners LLC Takes $2.33 Million Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Proficio Capital Partners LLC bought a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 82,967 shares of the business services provider's stock, valued at approximately $2,325,000.

Several other institutional investors have also recently added to or reduced their stakes in IPG. Apollon Wealth Management LLC purchased a new stake in Interpublic Group of Companies during the third quarter worth approximately $202,000. Victory Capital Management Inc. increased its position in Interpublic Group of Companies by 18.1% during the third quarter. Victory Capital Management Inc. now owns 706,774 shares of the business services provider's stock worth $22,355,000 after buying an additional 108,267 shares during the period. CIBC Asset Management Inc increased its position in Interpublic Group of Companies by 6.8% during the third quarter. CIBC Asset Management Inc now owns 64,191 shares of the business services provider's stock worth $2,030,000 after buying an additional 4,084 shares during the period. Natixis Advisors LLC increased its position in Interpublic Group of Companies by 59.6% during the third quarter. Natixis Advisors LLC now owns 429,509 shares of the business services provider's stock worth $13,585,000 after buying an additional 160,323 shares during the period. Finally, Quest Partners LLC increased its position in Interpublic Group of Companies by 418.7% during the third quarter. Quest Partners LLC now owns 6,878 shares of the business services provider's stock worth $218,000 after buying an additional 5,552 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

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Interpublic Group of Companies Price Performance

IPG stock traded up $0.04 on Friday, reaching $26.51. 42,353,534 shares of the company's stock were exchanged, compared to its average volume of 4,649,081. The stock has a fifty day moving average of $27.53 and a 200-day moving average of $29.11. The Interpublic Group of Companies, Inc. has a twelve month low of $25.85 and a twelve month high of $33.27. The firm has a market cap of $9.88 billion, a PE ratio of 14.48 and a beta of 1.14. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

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 earnings per share 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%. As a group, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

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

Interpublic Group of Companies announced that its board has approved 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 an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

IPG has been the topic of several research analyst reports. JPMorgan Chase & Co. raised Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Monday, March 17th. They set a "hold" rating on the stock. Wells Fargo & Company raised Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Barclays raised Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. Finally, BNP Paribas raised Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 target price on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $33.50.

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the business's 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 approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by corporate insiders.

About Interpublic Group of Companies

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.