2 weeks Ago By ABMN Staff
JPMorgan Chase & Co. decreased its holdings in shares of The Interpublic Group of Companies, Inc. ( NYSE:IPG – Free Report ) by 26.
0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,002,915 shares of the business services provider’s stock after selling 703,152 shares during the quarter. JPMorgan Chase & Co.
’s holdings in Interpublic Group of Companies were worth $56,122,000 at the end of the most recent reporting period. A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Korea Investment CORP boosted its holdings in shares of Interpublic Group of Companies by 7.
7% during the 4th quarter. Korea Investment CORP now owns 139,760 shares of the business services provider’s stock worth $3,916,000 after buying an additional 10,000 shares during the period. Prestige Wealth Management Group LLC lifted its position in Interpublic Group of Companies by 14.
1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 8,412 shares of the business services provider’s stock worth $236,000 after acquiring an additional 1,042 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Interpublic Group of Companies by 0.
9% during the fourth quarter. LPL Financial LLC now owns 465,454 shares of the business services provider’s stock worth $13,042,000 after acquiring an additional 4,177 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Interpublic Group of Companies in the fourth quarter valued at approximately $6,044,000.
Finally, Virtu Financial LLC increased its stake in shares of Interpublic Group of Companies by 1,870.4% during the fourth quarter. Virtu Financial LLC now owns 128,605 shares of the business services provider’s stock worth $3,604,000 after purchasing an additional 122,078 shares during the period.
98.43% of the stock is owned by institutional investors. Analysts Set New Price Targets Several analysts recently issued reports on IPG shares.
Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $36.00 in a research note on Friday, January 24th.
UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $27.00 in a research note on Thursday, February 13th.
JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $39.
00 in a research note 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 target price on the stock in a research report on Friday, January 10th.
Finally, StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research report on Wednesday. They issued a “hold” rating for the company.
One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.
50. Insider Buying and Selling at Interpublic Group of Companies In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.
82, for a total value of $574,672.14. Following the completion of the transaction, the chief financial officer now owns 143,373 shares of the company’s stock, valued at $3,845,263.
86. This represents a 13.00 % decrease in their position.
The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link . Company insiders own 0.42% of the company’s stock.
Interpublic Group of Companies Price Performance Shares of NYSE:IPG opened at $23.70 on Friday. 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 stock has a market capitalization of $8.83 billion, a PE ratio of 12.95 and a beta of 1.
14. The firm has a 50 day moving average of $27.13 and a 200-day moving average of $28.
73. The Interpublic Group of Companies, Inc. has a 12 month low of $23.
67 and a 12 month high of $33.05. Interpublic Group of Companies ( NYSE:IPG – Get Free Report ) last released 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%. On average, 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 Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.
33 dividend. This represents a $1.32 annualized dividend and a yield of 5.
57%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.
13%. Interpublic Group of Companies announced that its board has authorized a stock buyback plan 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
About Interpublic Group of Companies ( Free Report ) 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.
Further Reading Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Interpublic Group of Companies, Inc. ( NYSE:IPG – Free Report ).
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