Kentucky Retirement Systems Insurance Trust Fund Buys 3,620 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 32.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,740 shares of the business services provider’s stock after acquiring an additional 3,620 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Interpublic Group of Companies were worth $413,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new stake in Interpublic Group of Companies during the third quarter worth $26,000. Allworth Financial LP lifted its holdings in Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after acquiring an additional 480 shares during the period. Ashton Thomas Securities LLC bought a new stake in Interpublic Group of Companies during the third quarter worth $32,000. Brooklyn Investment Group bought a new stake in Interpublic Group of Companies during the third quarter worth $60,000. Finally, Raleigh Capital Management Inc. lifted its holdings in Interpublic Group of Companies by 31.8% during the third quarter. Raleigh Capital Management Inc. now owns 2,356 shares of the business services provider’s stock worth $75,000 after acquiring an additional 568 shares during the period. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG opened at $27.57 on Thursday. The stock has a market cap of $10.27 billion, a PE ratio of 15.06 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $35.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a fifty day moving average of $28.13 and a 200-day moving average of $29.75.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly 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 net margin of 6.45% and a return on equity of 27.10%. Equities research analysts anticipate 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 has approved a stock buyback program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.79%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s payout ratio is 72.13%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Argus downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. Finally, BNP Paribas raised 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 report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and an average target price of $33.50.

Interpublic Group of Companies Company 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.