Alliancebernstein L.P. Boosts Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Alliancebernstein L.P. raised its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 156.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056,905 shares of the business services provider’s stock after purchasing an additional 644,621 shares during the period. Alliancebernstein L.P.’s holdings in Interpublic Group of Companies were worth $29,614,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Pacer Advisors Inc. lifted its stake in Interpublic Group of Companies by 25,637.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock valued at $207,439,000 after buying an additional 7,374,491 shares in the last quarter. State Street Corp raised its holdings in shares of Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after acquiring an additional 3,920,975 shares during the last quarter. Amundi lifted its position in shares of Interpublic Group of Companies by 133.6% in the fourth quarter. Amundi now owns 5,402,201 shares of the business services provider’s stock valued at $150,393,000 after acquiring an additional 3,089,387 shares in the last quarter. Magnetar Financial LLC boosted its stake in shares of Interpublic Group of Companies by 12,548.6% during the fourth quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider’s stock valued at $67,955,000 after acquiring an additional 2,406,073 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Interpublic Group of Companies during the 4th quarter worth about $51,794,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by insiders.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $23.70 on Monday. 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 Interpublic Group of Companies, Inc. has a 1-year low of $23.67 and a 1-year high of $33.05. The firm has a market capitalization of $8.83 billion, a P/E ratio of 12.95 and a beta of 1.01. The business’s 50-day simple moving average is $27.13 and its 200-day simple moving average is $28.71.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data 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 return on equity of 27.10% and a net margin of 6.45%. Equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IPG shares. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. 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. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.50.

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.