The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp lifted its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,789 shares of the business services provider’s stock after acquiring an additional 4,185 shares during the period. Cibc World Markets Corp’s holdings in Interpublic Group of Companies were worth $8,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in Interpublic Group of Companies by 15.1% in the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after purchasing an additional 3,920,975 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Interpublic Group of Companies by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider’s stock worth $362,538,000 after buying an additional 511,607 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Interpublic Group of Companies by 0.9% in the third quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider’s stock worth $298,107,000 after buying an additional 81,265 shares in the last quarter. Pacer Advisors Inc. boosted its position in Interpublic Group of Companies by 25,637.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after acquiring an additional 7,374,491 shares during the last quarter. Finally, Amundi raised its holdings in Interpublic Group of Companies by 133.6% in the 4th quarter. Amundi now owns 5,402,201 shares of the business services provider’s stock valued at $150,393,000 after acquiring an additional 3,089,387 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’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 transaction, the chief financial officer now 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 filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. Argus lowered 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 Monday. They issued a “hold” rating for the company. Finally, Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $26.59 on Wednesday. The company’s 50 day simple moving average is $27.57 and its 200-day simple moving average is $29.19. 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 Interpublic Group of Companies, Inc. has a 1 year low of $25.85 and a 1 year high of $33.29. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 14.53 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research 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 has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 yield of 4.96%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 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.