The Interpublic Group of Companies, Inc. (NYSE:IPG) Stake Increased by HB Wealth Management LLC

HB Wealth Management LLC increased its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 62.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,362 shares of the business services provider’s stock after buying an additional 4,367 shares during the period. HB Wealth Management LLC’s holdings in Interpublic Group of Companies were worth $371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its holdings in Interpublic Group of Companies by 22.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,734 shares of the business services provider’s stock worth $56,000 after purchasing an additional 315 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Interpublic Group of Companies by 2.8% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,732 shares of the business services provider’s stock worth $391,000 after purchasing an additional 320 shares during the period. Clear Street Markets LLC boosted its holdings in shares of Interpublic Group of Companies by 94.9% during the first quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 372 shares during the period. Keybank National Association OH boosted its holdings in shares of Interpublic Group of Companies by 3.3% during the third quarter. Keybank National Association OH now owns 12,000 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 387 shares during the period. Finally, Western Pacific Wealth Management LP boosted its holdings in shares of Interpublic Group of Companies by 7.2% during the third quarter. Western Pacific Wealth Management LP now owns 6,026 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 405 shares during the period. Institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IPG. JPMorgan Chase & Co. reduced their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Barclays boosted their price target on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. UBS Group assumed coverage on shares of Interpublic Group of Companies in a report on Thursday, January 11th. They set a “neutral” rating and a $36.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of Interpublic Group of Companies from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.78.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 40,393 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the transaction, the chief financial officer now owns 88,350 shares of the company’s stock, valued at approximately $2,844,870. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $591,900.40. Following the transaction, the chief accounting officer now owns 42,390 shares of the company’s stock, valued at approximately $1,364,958. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,300,654.60. Following the completion of the sale, the chief financial officer now directly owns 88,350 shares of the company’s stock, valued at approximately $2,844,870. The disclosure for this sale can be found here. Insiders have sold a total of 249,646 shares of company stock valued at $8,038,601 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $32.76 on Thursday. The stock’s 50-day moving average price is $32.38 and its two-hundred day moving average price is $31.11. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.73. The company has a market cap of $12.41 billion, a PE ratio of 11.49, a PEG ratio of 2.22 and a beta of 1.13. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.02. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Interpublic Group of Companies had a return on equity of 30.52% and a net margin of 10.09%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.02 EPS. On average, analysts predict that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.31. Interpublic Group of Companies’s payout ratio is presently 46.32%.

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.