OppenheimerFunds Inc. lifted its stake in Interpublic Group of Companies Inc (NYSE:IPG) by 9.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 58,214 shares of the business services provider’s stock after acquiring an additional 5,175 shares during the quarter. OppenheimerFunds Inc.’s holdings in Interpublic Group of Companies were worth $1,174,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $113,000. NuWave Investment Management LLC acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $129,000. Virtu Financial LLC acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $208,000. Bank of Stockton acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $219,000. Finally, Opus Capital Group LLC acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $258,000. Hedge funds and other institutional investors own 99.49% of the company’s stock.
Shares of NYSE:IPG traded down $0.14 during trading hours on Friday, reaching $23.15. The stock had a trading volume of 3,475,070 shares, compared to its average volume of 4,945,055. Interpublic Group of Companies Inc has a 1 year low of $18.30 and a 1 year high of $26.01. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.58. The company has a market cap of $8,954.30, a PE ratio of 16.42, a P/E/G ratio of 2.05 and a beta of 1.31.
Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, February 14th. The business services provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. Interpublic Group of Companies had a net margin of 7.35% and a return on equity of 27.07%. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. equities research analysts expect that Interpublic Group of Companies Inc will post 1.7 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.63%. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, February 28th. Interpublic Group of Companies’s dividend payout ratio (DPR) is 59.57%.
Interpublic Group of Companies declared that its board has approved a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have issued reports on IPG. Morgan Stanley increased their target price on shares of Interpublic Group of Companies to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. BMO Capital Markets increased their target price on shares of Interpublic Group of Companies from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Pivotal Research reiterated a “buy” rating and set a $26.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, January 23rd. Wells Fargo lowered shares of Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a report on Thursday, January 18th. Finally, Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $25.85.
In related news, CFO Frank Mergenthaler sold 50,000 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $23.82, for a total value of $1,191,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director H John Greeniaus sold 14,600 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $23.84, for a total transaction of $348,064.00. The disclosure for this sale can be found here. Insiders sold a total of 448,258 shares of company stock worth $10,563,009 over the last ninety days. Insiders own 1.49% of the company’s stock.
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Interpublic Group of Companies Profile
The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).
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