Lifeworks Advisors LLC Makes New $209,000 Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Lifeworks Advisors LLC bought a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,459 shares of the business services provider’s stock, valued at approximately $209,000.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. raised its holdings in Interpublic Group of Companies by 25,637.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock valued at $207,439,000 after buying an additional 7,374,491 shares during the period. State Street Corp increased its position in shares of Interpublic Group of Companies by 15.1% during the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after acquiring an additional 3,920,975 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at approximately $51,794,000. Charles Schwab Investment Management Inc. boosted its position in shares of Interpublic Group of Companies by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider’s stock worth $362,538,000 after purchasing an additional 511,607 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Interpublic Group of Companies by 10.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,402,349 shares of the business services provider’s stock worth $139,246,000 after purchasing an additional 417,741 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Up 3.2 %

IPG opened at $28.20 on Monday. The firm’s 50 day moving average is $27.74 and its 200-day moving average is $29.47. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $10.51 billion, a P/E ratio of 15.41 and a beta of 1.14. The Interpublic Group of Companies, Inc. has a 52-week low of $26.15 and a 52-week high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (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%. Analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.68%. Interpublic Group of Companies’s dividend payout ratio (DPR) is 72.13%.

Interpublic Group of Companies announced that its Board of Directors has initiated a stock repurchase program 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 buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

IPG has been the subject of several recent research reports. BNP Paribas raised 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 note on Friday, January 10th. JPMorgan Chase & Co. upgraded 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 note on Monday, January 27th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.50.

Insider Buying and Selling

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.

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.