KLP Kapitalforvaltning AS Acquires Shares of 215,715 The Interpublic Group of Companies, Inc. (NYSE:IPG)

KLP Kapitalforvaltning AS bought a new position in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 215,715 shares of the business services provider’s stock, valued at approximately $6,044,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP raised its position in shares of Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after buying an additional 480 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $36,000. Brooklyn Investment Group bought a new position in Interpublic Group of Companies in the 3rd quarter worth $60,000. Transamerica Financial Advisors Inc. raised its position in shares of 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, 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 currently owned by institutional investors.

Insider Buying and Selling

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 transaction of $574,672.14. Following the sale, the chief financial officer now owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IPG. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Friday, January 10th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $32.00 to $36.00 in a research note on Friday, January 24th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Tuesday. They issued a “hold” rating on the stock. Finally, UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.50.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $26.28 on Wednesday. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 14.36 and a beta of 1.14. The stock has a 50-day moving average of $27.49 and a 200 day moving average of $29.00. 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 twelve month low of $25.85 and a twelve month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data 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%. Sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies announced that its board has approved a stock buyback program on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.02%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

About Interpublic Group of Companies

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.