141,805 Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG) Bought by Moran Wealth Management LLC

Moran Wealth Management LLC acquired a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 141,805 shares of the business services provider’s stock, valued at approximately $3,973,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IPG. 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 purchasing an additional 480 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Interpublic Group of Companies during the 3rd quarter worth about $32,000. OFI Invest Asset Management bought a new position in shares of Interpublic Group of Companies during the 4th quarter worth about $36,000. Brooklyn Investment Group bought a new position in shares of Interpublic Group of Companies during the 3rd quarter worth about $60,000. Finally, Transamerica Financial Advisors Inc. increased its holdings in shares of Interpublic Group of Companies by 243,700.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock worth $78,000 after purchasing an additional 2,437 shares during the period. Institutional investors own 98.43% of the company’s stock.

Insider Buying and Selling at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s 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 transaction, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

IPG has been the topic of several research reports. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Friday, January 10th. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $32.00 to $39.00 in a research report on Monday, January 27th. Finally, StockNews.com started coverage on shares of Interpublic Group of Companies in a research report on Sunday. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Price Performance

NYSE:IPG opened at $28.22 on Tuesday. The firm has a market cap of $10.52 billion, a PE ratio of 15.42 and a beta of 1.14. The Interpublic Group of Companies, Inc. has a 12 month low of $26.15 and a 12 month high of $35.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $27.75 and its two-hundred day moving average price is $29.44.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates 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 analysts anticipate 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 initiated a share buyback program 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.68%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

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.