The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Bought by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC grew its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,412 shares of the business services provider’s stock after purchasing an additional 1,042 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Interpublic Group of Companies were worth $236,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP raised its stake in Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 480 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter worth about $36,000. Brooklyn Investment Group acquired a new position in shares of Interpublic Group of Companies in the third quarter valued at approximately $60,000. Transamerica Financial Advisors Inc. lifted its stake in shares of Interpublic Group of Companies by 243,700.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock valued at $78,000 after buying an additional 2,437 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Interpublic Group of Companies during the third quarter worth approximately $107,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IPG has been the topic of several analyst reports. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $32.00 to $36.00 in a report on Friday, January 24th. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Finally, StockNews.com assumed coverage on shares of Interpublic Group of Companies in a report on Tuesday. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.50.

Interpublic Group of Companies Stock Up 1.3 %

Shares of NYSE IPG opened at $26.28 on Wednesday. The stock has a fifty day moving average price of $27.49 and a 200 day moving average price of $29.00. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12-month low of $25.85 and a 12-month high of $33.05. The company has a market cap of $9.79 billion, a P/E ratio of 14.36 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last announced 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%. Research analysts anticipate that The Interpublic Group of Companies, Inc. 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. Investors of record on Monday, March 3rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s payout ratio is 72.13%.

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

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at $3,845,263.86. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by insiders.

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.