MMA Asset Management LLC Has $265,000 Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

MMA Asset Management LLC trimmed its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 47.8% in the 4th quarter, Holdings Channel reports. The fund owned 9,449 shares of the business services provider’s stock after selling 8,664 shares during the quarter. MMA Asset Management LLC’s holdings in Interpublic Group of Companies were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Empirical Finance LLC boosted its position in shares of Interpublic Group of Companies by 1.3% in the third quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider’s stock valued at $1,031,000 after acquiring an additional 409 shares during the period. West Oak Capital LLC boosted its position in shares of Interpublic Group of Companies by 0.8% in the fourth quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider’s stock valued at $1,558,000 after acquiring an additional 435 shares during the period. Allworth Financial LP boosted its position in shares of 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 acquiring an additional 480 shares during the period. Proactive Wealth Strategies LLC boosted its position in shares of Interpublic Group of Companies by 5.8% in the fourth quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock valued at $311,000 after acquiring an additional 607 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of Interpublic Group of Companies by 0.4% in the third quarter. Asset Management One Co. Ltd. now owns 148,951 shares of the business services provider’s stock valued at $4,711,000 after acquiring an additional 622 shares during the period. 98.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IPG has been the subject of several research reports. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Friday, January 10th. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. StockNews.com started coverage on Interpublic Group of Companies in a research report on Saturday. They issued a “hold” rating for the company. Finally, Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Stock Up 1.4 %

Shares of NYSE IPG opened at $27.40 on Friday. The stock has a market cap of $10.21 billion, a PE ratio of 14.97 and a beta of 1.11. The business has a fifty day moving average of $27.86 and a two-hundred day moving average of $29.62. The Interpublic Group of Companies, Inc. has a 52-week low of $26.30 and a 52-week high of $35.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last issued 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%. As a group, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its Board of Directors has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.82%. Interpublic Group of Companies’s payout ratio is presently 72.13%.

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.