Virtu Financial LLC Buys 122,078 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Virtu Financial LLC raised its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 1,870.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 128,605 shares of the business services provider's stock after purchasing an additional 122,078 shares during the period. Virtu Financial LLC's holdings in Interpublic Group of Companies were worth $3,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IPG. Allworth Financial LP raised 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 last quarter. OFI Invest Asset Management acquired a new stake in Interpublic Group of Companies during the 4th quarter valued at approximately $36,000. Brooklyn Investment Group bought a new position in Interpublic Group of Companies during the 3rd quarter worth approximately $60,000. Transamerica Financial Advisors Inc. lifted its position 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 purchasing an additional 2,437 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Interpublic Group of Companies in the 3rd quarter valued at $107,000. 98.43% of the stock is owned by institutional investors and hedge funds.

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 value of $574,672.14. Following the transaction, the chief financial officer now owns 143,373 shares of the company's stock, 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 is accessible through this link. 0.42% of the stock is owned by corporate insiders.

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Interpublic Group of Companies Stock Up 1.3 %

IPG stock traded up $0.35 during mid-day trading on Tuesday, reaching $26.28. 6,813,586 shares of the company traded hands, compared to its average volume of 4,672,397. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 14.36 and a beta of 1.14. The Interpublic Group of Companies, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $33.05. The firm's 50 day moving average price is $27.49 and its 200 day moving average price is $29.00. 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 results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) 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 research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies declared that its Board of Directors has authorized a share buyback 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies's payout ratio is currently 72.13%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group upgraded shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and dropped their target price for the company from $29.00 to $27.00 in a report 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 target price on the stock in a research report on Friday, January 10th. Wells Fargo & Company raised shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Argus lowered Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, StockNews.com assumed coverage on Interpublic Group of Companies in a report on Tuesday. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of "Hold" and a consensus price target of $33.50.

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.