Elo Mutual Pension Insurance Co Sells 7,389 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Elo Mutual Pension Insurance Co lessened its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 22.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,995 shares of the business services provider’s stock after selling 7,389 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Interpublic Group of Companies were worth $728,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IPG. Korea Investment CORP grew its holdings in shares of Interpublic Group of Companies by 7.7% in the fourth quarter. Korea Investment CORP now owns 139,760 shares of the business services provider’s stock valued at $3,916,000 after purchasing an additional 10,000 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in Interpublic Group of Companies by 14.1% in the fourth quarter. Prestige Wealth Management Group LLC now owns 8,412 shares of the business services provider’s stock worth $236,000 after purchasing an additional 1,042 shares during the last quarter. LPL Financial LLC raised its stake in Interpublic Group of Companies by 0.9% during the fourth quarter. LPL Financial LLC now owns 465,454 shares of the business services provider’s stock valued at $13,042,000 after purchasing an additional 4,177 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Interpublic Group of Companies during the fourth quarter valued at $6,044,000. Finally, Virtu Financial LLC grew its stake in shares of Interpublic Group of Companies by 1,870.4% in the 4th quarter. Virtu Financial LLC now owns 128,605 shares of the business services provider’s stock worth $3,604,000 after buying an additional 122,078 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Insiders Place Their Bets

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

Interpublic Group of Companies Price Performance

NYSE IPG opened at $26.29 on Monday. The company has a market cap of $9.80 billion, a PE ratio of 14.37 and a beta of 1.14. The firm’s 50 day moving average price is $27.40 and its 200-day moving average price is $28.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The Interpublic Group of Companies, Inc. has a 52-week low of $25.85 and a 52-week high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (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%. Sell-side analysts forecast 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 authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $155.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 annualized dividend and a yield of 5.02%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Analyst Ratings Changes

Several analysts have recently issued reports on IPG shares. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research report on Tuesday, March 25th. They set a “hold” rating on the stock. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. upgraded 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. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $32.00 to $36.00 in a report on Friday, January 24th. Finally, Argus downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies currently has an average rating of “Hold” and an average target price 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.