Interpublic Group of Companies (NYSE:IPG) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a report published on Tuesday. The firm issued a hold rating on the business services provider’s stock.

Several other research firms have also commented on IPG. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $32.00 to $39.00 in a report on Monday, January 27th. BNP Paribas upgraded shares of 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. Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Interpublic Group of Companies presently has an average rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Trading Up 1.3 %

Shares of Interpublic Group of Companies stock opened at $26.28 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $27.49 and a 200-day simple moving average of $29.00. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 14.36 and a beta of 1.14. Interpublic Group of Companies has a 12-month low of $25.85 and a 12-month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data 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 net margin of 6.45% and a return on equity of 27.10%. On average, equities analysts forecast that Interpublic Group of Companies will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $155.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.02%. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

Insider Buying and Selling

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Interpublic Group of Companies by 15.1% in the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after acquiring an additional 3,920,975 shares during the period. Assetmark Inc. grew its holdings in Interpublic Group of Companies by 3.0% in the fourth quarter. Assetmark Inc. now owns 42,496 shares of the business services provider’s stock valued at $1,191,000 after purchasing an additional 1,238 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Interpublic Group of Companies by 240.9% in the third quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock valued at $913,000 after buying an additional 20,395 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Interpublic Group of Companies by 69.5% during the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider’s stock worth $204,000 after buying an additional 2,991 shares during the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of Interpublic Group of Companies by 956.5% during the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock worth $3,313,000 after buying an additional 94,821 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

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.