Interpublic Group of Companies (NYSE:IPG) Now Covered by StockNews.com

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

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $39.00 in a research report on Monday, January 27th. Barclays cut their target price on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Citigroup reiterated a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their target price for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Finally, Argus downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.44.

Interpublic Group of Companies Stock Up 2.1%

IPG stock opened at $25.66 on Monday. Interpublic Group of Companies has a twelve month low of $22.51 and a twelve month high of $33.05. 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 cap of $9.49 billion, a PE ratio of 14.02 and a beta of 1.09. The business has a 50 day moving average of $25.36 and a 200 day moving average of $27.44.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the company earned $0.36 EPS. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, research analysts forecast that Interpublic Group of Companies will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.33 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.14%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 100.76%.

Interpublic Group of Companies declared that its board has initiated a share buyback program on Wednesday, February 12th that permits the company to repurchase $155.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’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 completion of the sale, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This represents a 13.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Trading of Interpublic Group of Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in Interpublic Group of Companies by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider’s stock valued at $374,304,000 after buying an additional 842,925 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Interpublic Group of Companies by 139.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider’s stock valued at $370,157,000 after purchasing an additional 7,693,636 shares during the period. First Trust Advisors LP grew its holdings in Interpublic Group of Companies by 13.0% during the fourth quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider’s stock valued at $363,584,000 after purchasing an additional 1,492,019 shares during the period. Invesco Ltd. grew its holdings in Interpublic Group of Companies by 14.8% during the fourth quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider’s stock valued at $287,618,000 after purchasing an additional 1,320,345 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Interpublic Group of Companies by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 9,531,530 shares of the business services provider’s stock valued at $266,614,000 after purchasing an additional 81,996 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

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.