First Citizens Bank & Trust Co. Purchases 7,240 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

First Citizens Bank & Trust Co. grew its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGFree Report) by 52.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,124 shares of the business services provider’s stock after buying an additional 7,240 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Interpublic Group of Companies were worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its position in shares of Interpublic Group of Companies by 22.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,734 shares of the business services provider’s stock worth $56,000 after buying an additional 315 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Interpublic Group of Companies by 2.8% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,732 shares of the business services provider’s stock worth $391,000 after buying an additional 320 shares in the last quarter. Clear Street Markets LLC lifted its position in shares of Interpublic Group of Companies by 94.9% during the 1st quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock worth $28,000 after buying an additional 372 shares in the last quarter. Keybank National Association OH raised its holdings in shares of Interpublic Group of Companies by 3.3% in the 3rd quarter. Keybank National Association OH now owns 12,000 shares of the business services provider’s stock worth $344,000 after purchasing an additional 387 shares during the period. Finally, Great Lakes Retirement Inc. raised its holdings in shares of Interpublic Group of Companies by 3.9% in the 4th quarter. Great Lakes Retirement Inc. now owns 10,198 shares of the business services provider’s stock worth $333,000 after purchasing an additional 387 shares during the period. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IPG. JPMorgan Chase & Co. lowered their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. UBS Group initiated coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price target on the stock. Wells Fargo & Company lifted their price objective 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. Finally, Barclays raised their price target on Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Five 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 stock currently has a consensus rating of “Hold” and an average price target of $35.25.

Get Our Latest Stock Analysis on IPG

Interpublic Group of Companies Stock Down 1.1 %

IPG stock opened at $32.14 on Wednesday. The stock has a market capitalization of $12.17 billion, a P/E ratio of 11.28, a P/E/G ratio of 2.23 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.06 and a quick ratio of 1.06. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $40.95. The business has a fifty day moving average price of $32.42 and a 200-day moving average price of $31.14.

Interpublic Group of Companies (NYSE:IPGGet Free Report) last issued its earnings results on Thursday, February 8th. The business services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. Interpublic Group of Companies had a return on equity of 30.52% and a net margin of 10.09%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm earned $1.02 EPS. Interpublic Group of Companies’s revenue was up 1.4% on a year-over-year basis. Equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.11%. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, February 29th. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.32%.

Insider Activity at Interpublic Group of Companies

In other news, CAO Christopher F. Carroll sold 18,382 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the completion of the sale, the chief accounting officer now owns 42,390 shares of the company’s stock, valued at approximately $1,364,958. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Christopher F. Carroll sold 18,382 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the completion of the transaction, the chief accounting officer now owns 42,390 shares of the company’s stock, valued at approximately $1,364,958. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Philippe Krakowsky sold 150,403 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the completion of the transaction, the chief executive officer now directly owns 415,776 shares of the company’s stock, valued at approximately $13,387,987.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,646 shares of company stock worth $8,038,601. 0.33% of the stock is owned by company insiders.

About Interpublic Group of Companies

(Free Report)

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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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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