StockNews.com Initiates Coverage on Interpublic Group of Companies (NYSE:IPG)

StockNews.com started coverage on shares of Interpublic Group of Companies (NYSE:IPG) in a research note released on Friday morning. The brokerage issued a hold rating on the business services provider’s stock.

Other analysts have also recently issued research reports about the stock. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $39.00 in a research note on Monday, January 27th. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Friday, January 10th. Finally, UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their target price for the stock 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 five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and a consensus target price of $33.67.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $23.91 on Friday. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 13.07 and a beta of 1.01. 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 has a 12 month low of $22.51 and a 12 month high of $33.05. The stock’s 50 day moving average is $26.11 and its 200-day moving average is $28.17.

Interpublic Group of Companies (NYSE:IPG) last issued 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 net margin of 6.45% and a return on equity of 27.10%. Equities research analysts expect that Interpublic Group of Companies will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s payout ratio is 72.13%.

Interpublic Group of Companies announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding 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 often an indication that the company’s management believes its stock is undervalued.

Insider Activity 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 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 ownership of the stock. 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 insiders.

Institutional Investors Weigh In On Interpublic Group of Companies

Hedge funds have recently modified their holdings of the company. Allworth Financial LP raised its position in Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 480 shares during the last quarter. Sentry Investment Management LLC bought a new position in Interpublic Group of Companies in the 1st quarter valued at approximately $31,000. OFI Invest Asset Management acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $36,000. Raiffeisen Bank International AG acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $42,000. Finally, FNY Investment Advisers LLC bought a new stake in Interpublic Group of Companies during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.