Silvercrest Asset Management Group LLC raised its position in shares of The Interpublic Group of Companies, Inc. (NYSE: IPG – Get Rating) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 38,116 shares of the business services provider’s stock after purchasing an additional 840 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Interpublic Group of Companies were worth $ 1,427,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in IPG. Bank of New York Mellon Corp increased its position in shares of Interpublic Group of Companies by 21.7% during the third quarter. Bank of New York Mellon Corp now owns 8,583,497 shares of the business services provider’s stock worth $ 314,756,000 after buying an additional 1,529,332 shares during the period. State Street Corp raised its position in shares of Interpublic Group of Companies by 4.3% in the 4th quarter. State Street Corp now owns 21,776,352 shares of the business services provider’s stock worth $ 815,524,000 after acquiring an additional 899,103 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Interpublic Group of Companies in the 4th quarter valued at about $ 29,990,000. Brown Advisory Inc. grew its stake in Interpublic Group of Companies by 2,563.3% during the fourth quarter. Brown Advisory Inc. now owns 806,573 shares of the business services provider’s stock worth $ 30,205,000 after purchasing an additional 776,288 shares during the period. Finally, Morgan Stanley increased its holdings in Interpublic Group of Companies by 44.0% in the third quarter. Morgan Stanley now owns 2,498,591 shares of the business services provider’s stock worth $ 91,622,000 after purchasing an additional 763,718 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company stock.
In related news, Director Jocelyn Carter-Miller acquired 6,764 shares of the firm’s stock in a transaction that occurred on Friday, April 29th. The shares were bought at an average cost of $ 33.26 per share, for a total transaction of $ 224,970.64. Following the purchase, the director now owns 44,714 shares in the company, valued at approximately $ 1,487,187.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dawn E. Hudson sold 18,376 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $ 32.45, for a total value of $ 596,301.20. Following the sale, the director now owns 32,880 shares in the company, valued at $ 1,066,956. The disclosure for this sale can be found here. Company insiders own 0.33% of the company stock.
Shares of NYSE: IPG opened at $ 28.01 on Tuesday. The stock has a market cap of $ 11.03 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 2.43 and a beta of 0.99. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. The Interpublic Group of Companies, Inc. has a 12-month low of $ 27.67 and a 12-month high of $ 39.98. The business’s 50 day moving average is $ 32.70 and its 200 day moving average is $ 34.89.
Interpublic Group of Companies (NYSE: IPG – Get Rating) last announced its earnings results on Thursday, April 28th. The business services provider reported $ 0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.40 by $ 0.07. The company had revenue of $ 2.23 billion for the quarter, compared to analysts’ expectations of $ 2.17 billion. Interpublic Group of Companies had a return on equity of 31.10% and a net margin of 9.67%. Interpublic Group of Companies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $ 0.45 earnings per share. As a group, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 21st. Investors of record on Monday, June 6th will be issued a dividend of $ 0.29 per share. The ex-dividend date is Friday, June 3rd. This represents a $ 1.16 dividend on an annualized basis and a yield of 4.14%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 45.31%.
IPG has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Interpublic Group of Companies in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays downgraded Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $ 47.00 to $ 42.00 in a report on Monday, March 14th. Argus upgraded Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $ 41.00 target price for the company in a report on Monday, March 21st. Finally, Morgan Stanley lowered their target price on Interpublic Group of Companies from $ 40.00 to $ 35.00 and set an “equal weight” rating for the company in a report on Friday. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $ 39.44.
Interpublic Group of Companies Company Profile: (Get Rating)
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.
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