KLP Kapitalforvaltning AS Invests $6.04 Million in The Interpublic Group of Companies, Inc. (NYSE:IPG)

KLP Kapitalforvaltning AS bought a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 215,715 shares of the business services provider’s stock, valued at approximately $6,044,000. KLP Kapitalforvaltning AS owned about 0.06% of Interpublic Group of Companies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of IPG. Virtu Financial LLC raised its stake in shares of Interpublic Group of Companies by 1,870.4% during the 4th quarter. Virtu Financial LLC now owns 128,605 shares of the business services provider’s stock worth $3,604,000 after purchasing an additional 122,078 shares in the last quarter. Quantbot Technologies LP increased its holdings in Interpublic Group of Companies by 27.8% during the fourth quarter. Quantbot Technologies LP now owns 256,397 shares of the business services provider’s stock worth $7,184,000 after buying an additional 55,747 shares during the last quarter. Kiker Wealth Management LLC bought a new stake in Interpublic Group of Companies during the fourth quarter worth $613,000. Northwest & Ethical Investments L.P. lifted its stake in Interpublic Group of Companies by 121.3% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 34,463 shares of the business services provider’s stock valued at $966,000 after acquiring an additional 18,891 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Interpublic Group of Companies by 50.2% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 122,812 shares of the business services provider’s stock worth $3,441,000 after purchasing an additional 41,049 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 in the company, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $36.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $39.00 in a report on Monday, January 27th. StockNews.com began coverage on shares of Interpublic Group of Companies in a report on Tuesday. They issued a “hold” rating on the stock. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, BNP Paribas upgraded 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 analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Trading Up 1.3 %

Shares of NYSE:IPG opened at $26.28 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a 1 year low of $25.85 and a 1 year high of $33.05. The company has a market capitalization of $9.79 billion, a P/E ratio of 14.36 and a beta of 1.14. The business’s 50 day simple moving average is $27.49 and its 200 day simple moving average is $29.00.

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%. On average, research 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 approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $155.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The business 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 of this dividend was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.02%. Interpublic Group of Companies’s payout ratio is currently 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.