The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Acquired by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC raised its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 14.1% in the 4th quarter, Holdings Channel reports. The firm owned 8,412 shares of the business services provider’s stock after purchasing an additional 1,042 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Interpublic Group of Companies were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Allworth Financial LP lifted its holdings 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 worth $31,000 after acquiring an additional 480 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter worth approximately $36,000. Brooklyn Investment Group bought a new stake in shares of Interpublic Group of Companies in the 3rd quarter worth approximately $60,000. Transamerica Financial Advisors Inc. boosted its position in Interpublic Group of Companies by 243,700.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock valued at $78,000 after purchasing an additional 2,437 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Interpublic Group of Companies during the 3rd quarter worth $107,000. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $26.28 on Wednesday. The Interpublic Group of Companies, Inc. has a 52 week low of $25.85 and a 52 week high of $33.05. 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 company’s 50-day moving average price is $27.49 and its two-hundred day moving average price is $29.00. The stock has a market cap of $9.79 billion, a PE ratio of 14.36 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate 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, 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 of Directors has initiated a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $155.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Insider Activity

In related 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.