The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its stake in The Interpublic Group of Companies, Inc. (NYSE:IPGFree Report) by 52.1% during the 4th quarter, Holdings Channel reports. The firm owned 21,124 shares of the business services provider’s stock after purchasing an additional 7,240 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Interpublic Group of Companies were worth $689,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Interpublic Group of Companies by 2.3% in the first quarter. Vanguard Group Inc. now owns 47,707,617 shares of the business services provider’s stock valued at $1,691,233,000 after purchasing an additional 1,075,059 shares during the period. State Street Corp grew its position in shares of Interpublic Group of Companies by 3.8% in the second quarter. State Street Corp now owns 21,621,069 shares of the business services provider’s stock valued at $834,141,000 after purchasing an additional 794,768 shares during the period. Black Creek Investment Management Inc. grew its position in shares of Interpublic Group of Companies by 14.1% in the third quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock valued at $278,649,000 after purchasing an additional 1,204,630 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Interpublic Group of Companies by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,291,211 shares of the business services provider’s stock valued at $266,286,000 after purchasing an additional 167,810 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Interpublic Group of Companies by 1.6% in the first quarter. Geode Capital Management LLC now owns 8,428,989 shares of the business services provider’s stock valued at $314,227,000 after purchasing an additional 133,527 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IPG. Barclays lifted their target price on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. lowered their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Wells Fargo & Company boosted their price target on shares of Interpublic Group of Companies from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Finally, UBS Group initiated coverage on shares of Interpublic Group of Companies in a research report on Thursday, January 11th. They set a “neutral” rating and a $36.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies currently has an average rating of “Hold” and an average target price of $35.25.

Check Out Our Latest Stock Report on Interpublic Group of Companies

Insiders Place Their Bets

In other news, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,300,654.60. Following the sale, the chief financial officer now directly owns 88,350 shares of the company’s stock, valued at approximately $2,844,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,300,654.60. Following the sale, the chief financial officer now directly owns 88,350 shares of the company’s stock, valued at approximately $2,844,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Philippe Krakowsky sold 150,403 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the completion of the sale, the chief executive officer now directly owns 415,776 shares in the company, valued at $13,387,987.20. The disclosure for this sale can be found here. Insiders have sold 249,646 shares of company stock valued at $8,038,601 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of IPG stock opened at $32.14 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50-day moving average is $32.42 and its two-hundred day moving average is $31.14. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $40.95. The company has a market capitalization of $12.17 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.23 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPGGet Free Report) last issued its earnings results on Thursday, February 8th. The business services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. Interpublic Group of Companies had a net margin of 10.09% and a return on equity of 30.52%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. Interpublic Group of Companies’s quarterly revenue was up 1.4% compared to the same quarter last year. Analysts predict that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current year.

Interpublic Group of Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 4.11%. Interpublic Group of Companies’s payout ratio is 46.32%.

About Interpublic Group of Companies

(Free Report)

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.

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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