The Interpublic Group of Companies, Inc. (NYSE:IPG) Stock Position Increased by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 315,865 shares of the business services provider's stock after purchasing an additional 56,332 shares during the period. Russell Investments Group Ltd. owned 0.08% of Interpublic Group of Companies worth $8,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC purchased a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $578,000. National Bank of Canada FI boosted its stake in shares of Interpublic Group of Companies by 90.0% in the third quarter. National Bank of Canada FI now owns 196,841 shares of the business services provider's stock valued at $6,226,000 after purchasing an additional 93,251 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Interpublic Group of Companies by 11.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 116,722 shares of the business services provider's stock worth $3,692,000 after buying an additional 12,347 shares during the period. Barclays PLC grew its stake in shares of Interpublic Group of Companies by 0.8% during the third quarter. Barclays PLC now owns 1,651,753 shares of the business services provider's stock valued at $52,243,000 after acquiring an additional 13,546 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Interpublic Group of Companies by 0.9% in the third quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider's stock worth $298,107,000 after acquiring an additional 81,265 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG traded down $1.85 during trading on Wednesday, hitting $23.29. 7,600,024 shares of the company traded hands, compared to its average volume of 5,102,927. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 12.73 and a beta of 1.01. The Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The business's fifty day moving average is $26.33 and its 200-day moving average is $28.31.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued 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 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 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.67%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is 72.13%.

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

Analyst Ratings Changes

A number of brokerages have issued reports on IPG. Citigroup reaffirmed a "buy" rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a report on Thursday, April 10th. They issued a "hold" rating on the stock. Argus lowered shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Barclays raised shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. Finally, BNP Paribas upgraded Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target for the company in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $33.67.

Insider Buying and Selling at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm'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 transaction, the chief financial officer now directly owns 143,373 shares of the company's stock, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by company insiders.

Interpublic Group of Companies Company 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.