Access Financial Services Inc. purchased a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,315 shares of the business services provider’s stock, valued at approximately $1,316,000.
A number of other hedge funds and other institutional investors have also modified their holdings of IPG. Compass Wealth Management LLC acquired a new position in Interpublic Group of Companies during the 4th quarter worth $25,000. Clear Street Markets LLC raised its position in shares of Interpublic Group of Companies by 94.9% during the first quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock worth $28,000 after acquiring an additional 372 shares during the last quarter. Authentikos Wealth Advisory LLC acquired a new position in shares of Interpublic Group of Companies during the third quarter valued at $33,000. Resurgent Financial Advisors LLC bought a new position in Interpublic Group of Companies in the fourth quarter valued at about $34,000. Finally, First Manhattan CO. LLC. boosted its holdings in Interpublic Group of Companies by 1,176.5% in the first quarter. First Manhattan CO. LLC. now owns 1,085 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.
Interpublic Group of Companies Stock Down 0.5 %
NYSE:IPG opened at $32.62 on Friday. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $40.95. The stock has a 50-day moving average price of $32.40 and a two-hundred day moving average price of $31.12. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.25 and a beta of 1.13. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.73.
Interpublic Group of Companies Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.33 dividend. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 4.05%. The ex-dividend date was Thursday, February 29th. Interpublic Group of Companies’s payout ratio is currently 46.32%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on IPG. UBS Group initiated coverage on shares of Interpublic Group of Companies in a research report on Thursday, January 11th. They set a “neutral” rating and a $36.00 target price on the stock. Barclays raised their price objective on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Finally, Wells Fargo & Company increased their price target on Interpublic Group of Companies from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $35.78.
Get Our Latest Report on Interpublic Group of Companies
Insider Buying and Selling
In other news, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $1,300,654.60. Following the sale, the chief financial officer now directly owns 88,350 shares in the company, valued at $2,844,870. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Ellen Tobi Johnson sold 40,393 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,300,654.60. Following the sale, the chief financial officer now directly owns 88,350 shares in the company, valued at $2,844,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew Bonzani sold 40,468 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the transaction, the executive vice president now owns 70,431 shares of the company’s stock, valued at approximately $2,267,878.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 249,646 shares of company stock valued at $8,038,601. Company insiders own 0.35% of the company’s stock.
Interpublic Group of Companies Profile
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.
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