Magnetar Financial LLC Increases Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Magnetar Financial LLC lifted its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 12,548.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,425,247 shares of the business services provider’s stock after purchasing an additional 2,406,073 shares during the period. Interpublic Group of Companies comprises 1.6% of Magnetar Financial LLC’s portfolio, making the stock its 13th largest holding. Magnetar Financial LLC owned approximately 0.65% of Interpublic Group of Companies worth $67,955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IPG. Allworth Financial LP grew its stake 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 valued at $31,000 after acquiring an additional 480 shares in the last quarter. OFI Invest Asset Management purchased a new position in Interpublic Group of Companies during the fourth quarter valued at $36,000. Brooklyn Investment Group purchased a new position in Interpublic Group of Companies during the third quarter valued at $60,000. Transamerica Financial Advisors Inc. grew its stake in Interpublic Group of Companies by 243,700.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 2,437 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Interpublic Group of Companies during the third quarter valued at $107,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $26.66 on Thursday. The firm has a 50-day moving average price of $27.55 and a 200-day moving average price of $29.18. The firm has a market capitalization of $9.94 billion, a PE ratio of 14.57 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12-month low of $25.85 and a 12-month high of $33.29.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data 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%. As a group, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.95%. Interpublic Group of Companies’s payout ratio is 72.13%.

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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

IPG has been the subject of several research reports. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $39.00 in a research report on Monday, January 27th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $27.00 in a research 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 for the company in a research report on Friday, January 10th. Finally, StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research report on Monday. They set a “hold” rating for the company. 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’s stock. According to data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares in the company, 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 through the SEC website. 0.42% of the stock is currently owned by company insiders.

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.