Allspring Global Investments Holdings LLC lessened its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) by 4.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 20,885 shares of the business services provider’s stock after selling 880 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Interpublic Group of Companies were worth $587,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new stake in Interpublic Group of Companies in the 3rd quarter worth $26,000. Ashton Thomas Securities LLC purchased a new stake in Interpublic Group of Companies in the 3rd quarter worth $32,000. Brooklyn Investment Group purchased a new stake in Interpublic Group of Companies in the 3rd quarter worth $60,000. Transamerica Financial Advisors Inc. increased its holdings in Interpublic Group of Companies by 243,700.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock worth $78,000 after acquiring an additional 2,437 shares in the last quarter. Finally, AM Squared Ltd increased its holdings in Interpublic Group of Companies by 63.2% in the 3rd quarter. AM Squared Ltd now owns 3,100 shares of the business services provider’s stock worth $98,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IPG shares. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $39.00 in a report on Monday, January 27th. StockNews.com started coverage on shares of Interpublic Group of Companies in a report on Friday. They set a “hold” rating for the company. BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price for the company in a report on Friday, January 10th. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Interpublic Group of Companies currently has an average rating of “Hold” and an average price target of $33.50.

View Our Latest Research Report on Interpublic Group of Companies

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $27.56 on Tuesday. The Interpublic Group of Companies, Inc. has a 12-month low of $26.30 and a 12-month high of $35.17. The stock has a market cap of $10.27 billion, a P/E ratio of 15.06 and a beta of 1.11. The company has a 50-day moving average price of $28.03 and a 200 day moving average price of $29.72. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG – Get Free Report) last announced 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%. Sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $155.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

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

Interpublic Group of Companies Profile

(Free Report)

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.

Further Reading

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