Korea Investment CORP Has $3.92 Million Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Korea Investment CORP boosted its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,760 shares of the business services provider’s stock after buying an additional 10,000 shares during the quarter. Korea Investment CORP’s holdings in Interpublic Group of Companies were worth $3,916,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Allworth Financial LP increased its holdings in shares of Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after acquiring an additional 480 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Interpublic Group of Companies in the fourth quarter valued at $36,000. Wilmington Savings Fund Society FSB bought a new position in shares of Interpublic Group of Companies in the third quarter valued at about $107,000. CENTRAL TRUST Co lifted its stake in shares of Interpublic Group of Companies by 10.6% during the 4th quarter. CENTRAL TRUST Co now owns 7,037 shares of the business services provider’s stock worth $197,000 after buying an additional 675 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Interpublic Group of Companies during the 4th quarter worth about $203,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $26.11 on Wednesday. The firm has a 50 day moving average of $27.35 and a 200-day moving average of $28.85. 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 current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $9.73 billion, a PE ratio of 14.27 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 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, equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Insiders Place Their Bets

In related 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 shares were 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 of the company’s stock, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.