Sterling Capital Management LLC lifted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) by 55.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,329 shares of the business services provider’s stock after buying an additional 7,965 shares during the quarter. Sterling Capital Management LLC’s holdings in Interpublic Group of Companies were worth $626,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC boosted its stake in shares of Interpublic Group of Companies by 0.8% in the third quarter. Barclays PLC now owns 1,651,753 shares of the business services provider’s stock valued at $52,243,000 after purchasing an additional 13,546 shares during the period. Virtu Financial LLC acquired a new stake in shares of Interpublic Group of Companies during the third quarter valued at about $206,000. Sanctuary Advisors LLC increased its position in shares of Interpublic Group of Companies by 26.6% during the third quarter. Sanctuary Advisors LLC now owns 58,838 shares of the business services provider’s stock worth $1,740,000 after acquiring an additional 12,368 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Interpublic Group of Companies in the third quarter worth about $2,499,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Interpublic Group of Companies during the 3rd quarter valued at approximately $107,000. 98.43% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s 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 sale, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.
Interpublic Group of Companies Stock Up 2.8 %
Interpublic Group of Companies (NYSE:IPG – Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.
Interpublic Group of Companies declared that its Board of Directors has initiated a stock repurchase 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Interpublic Group of Companies Dividend Announcement
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 dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 72.13%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on IPG shares. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Citigroup reissued a “buy” rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday. Finally, UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $33.67.
Check Out Our Latest Stock Report on IPG
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.
Recommended Stories
- Five stocks we like better than Interpublic Group of Companies
- Market Cap Calculator: How to Calculate Market Cap
- Tariff Exemptions Set the Stage for a Taiwan Semiconductor Rally
- What is the NASDAQ Stock Exchange?
- Mitigating Tariffs: 3 Stocks to Gain From a Weaker U.S. Dollar
- Earnings Per Share Calculator: How to Calculate EPS
- Broadcom’s Apple Relationship: AI Opportunity Meets Tariff Risk
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).
Receive News & Ratings for Interpublic Group of Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies and related companies with MarketBeat.com's FREE daily email newsletter.