11,748 Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG) Bought by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC purchased a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,748 shares of the business services provider’s stock, valued at approximately $329,000.

Several other institutional investors have also recently bought and sold shares of IPG. West Oak Capital LLC increased its position in shares of Interpublic Group of Companies by 0.8% during the 4th quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider’s stock valued at $1,558,000 after purchasing an additional 435 shares during the last quarter. Allworth Financial LP boosted its stake in Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after buying an additional 480 shares in the last quarter. GeoWealth Management LLC grew its position in Interpublic Group of Companies by 20.7% during the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 573 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Interpublic Group of Companies by 1.0% in the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider’s stock worth $1,677,000 after acquiring an additional 587 shares during the last quarter. Finally, Proactive Wealth Strategies LLC boosted its stake in shares of Interpublic Group of Companies by 5.8% in the 4th quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock valued at $311,000 after purchasing an additional 607 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 1.7 %

IPG stock opened at $23.90 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The stock has a market capitalization of $8.91 billion, a P/E ratio of 13.06 and a beta of 1.01. The business has a fifty day moving average price of $25.99 and a 200-day moving average price of $28.05.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results 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%. Equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Insider Buying and Selling at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was 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 in the company, valued at $3,845,263.86. This represents a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IPG shares. Citigroup restated a “buy” rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. Finally, Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.67.

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.