Cibc World Markets Corp Raises Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Cibc World Markets Corp boosted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,789 shares of the business services provider’s stock after acquiring an additional 4,185 shares during the period. Cibc World Markets Corp owned 0.08% of Interpublic Group of Companies worth $8,456,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP lifted 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 valued at $31,000 after purchasing an additional 480 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Interpublic Group of Companies in the fourth quarter valued at about $36,000. Brooklyn Investment Group acquired a new stake in Interpublic Group of Companies in the third quarter worth about $60,000. Transamerica Financial Advisors Inc. grew 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 worth $78,000 after acquiring an additional 2,437 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Interpublic Group of Companies during the third quarter valued at about $107,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the sale, the chief financial officer now owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on IPG shares. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $39.00 in a report on Monday, January 27th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. Finally, Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Stock Performance

IPG opened at $26.59 on Wednesday. The stock has a market cap of $9.91 billion, a P/E ratio of 14.53 and a beta of 1.14. 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 firm has a fifty day moving average price of $27.57 and a 200 day moving average price of $29.19. The Interpublic Group of Companies, Inc. has a 1 year low of $25.85 and a 1 year high of $33.29.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. Equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

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

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.96%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies’s payout ratio is currently 72.13%.

Interpublic Group of Companies Company 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.