The Interpublic Group of Companies, Inc. (NYSE:IPG) Stock Holdings Increased by Vestcor Inc

Vestcor Inc increased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2,031.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,907 shares of the business services provider’s stock after purchasing an additional 120,000 shares during the quarter. Vestcor Inc’s holdings in Interpublic Group of Companies were worth $3,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Moran Wealth Management LLC purchased a new position in shares of Interpublic Group of Companies in the fourth quarter worth approximately $3,973,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Interpublic Group of Companies by 17.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119,711 shares of the business services provider’s stock worth $31,374,000 after acquiring an additional 165,008 shares in the last quarter. AlphaQuest LLC increased its position in shares of Interpublic Group of Companies by 100.5% in the fourth quarter. AlphaQuest LLC now owns 13,793 shares of the business services provider’s stock worth $386,000 after acquiring an additional 6,915 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in shares of Interpublic Group of Companies in the fourth quarter worth approximately $9,857,000. Finally, OFI Invest Asset Management purchased a new position in Interpublic Group of Companies during the fourth quarter valued at approximately $36,000. 98.43% of the stock is currently owned by institutional investors.

Insider Activity 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 completion of the sale, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on IPG shares. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Friday, January 10th. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their target price for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. StockNews.com began coverage on shares of Interpublic Group of Companies in a report on Sunday, March 9th. They set a “hold” rating on the stock. Finally, Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $36.00 in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Interpublic Group of Companies currently has an average rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Trading Down 0.9 %

IPG opened at $26.11 on Friday. The Interpublic Group of Companies, Inc. has a twelve month low of $25.97 and a twelve month high of $35.17. The company has a 50-day simple moving average of $27.66 and a 200 day simple moving average of $29.36. 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 stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 14.27 and a beta of 1.14.

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%. Analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

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

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

Interpublic Group of Companies 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.