Interpublic Group of Companies (NYSE:IPG) Shares Up 4.9% – Here’s What Happened

The Interpublic Group of Companies, Inc. (NYSE:IPG)’s stock price rose 4.9% on Monday . The stock traded as high as $29.39 and last traded at $29.55. Approximately 1,295,411 shares changed hands during trading, a decline of 77% from the average daily volume of 5,593,542 shares. The stock had previously closed at $28.18.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IPG shares. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a report on Sunday. They issued a “hold” rating for the company. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $39.00 in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Stock Performance

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 business has a fifty day simple moving average of $27.74 and a 200-day simple moving average of $29.41. The firm has a market cap of $10.20 billion, a P/E ratio of 14.95 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last announced 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%. On average, sell-side analysts predict 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. Investors of record on Monday, March 3rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.82%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Interpublic Group of Companies declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $155.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity 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 dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares in the company, valued at $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 SEC, which is available through this hyperlink. 0.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Interpublic Group of Companies

Large investors have recently made changes to their positions in the business. Copley Financial Group Inc. grew its holdings in shares of Interpublic Group of Companies by 4.6% in the fourth quarter. Copley Financial Group Inc. now owns 16,058 shares of the business services provider’s stock valued at $450,000 after purchasing an additional 712 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Interpublic Group of Companies during the fourth quarter worth $11,637,000. Forum Financial Management LP boosted its position in Interpublic Group of Companies by 17.2% in the 4th quarter. Forum Financial Management LP now owns 7,612 shares of the business services provider’s stock valued at $213,000 after buying an additional 1,115 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Interpublic Group of Companies by 40.4% in the 4th quarter. Toronto Dominion Bank now owns 253,675 shares of the business services provider’s stock worth $7,106,000 after buying an additional 73,054 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Interpublic Group of Companies during the 4th quarter worth about $1,923,000. 98.43% of the stock is currently 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.