Edgestream Partners L.P. Has $1.58 Million Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Edgestream Partners L.P. lowered its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 33.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 56,272 shares of the business services provider’s stock after selling 27,852 shares during the period. Edgestream Partners L.P.’s holdings in Interpublic Group of Companies were worth $1,577,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after buying an additional 480 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Interpublic Group of Companies during the third quarter worth $32,000. Brooklyn Investment Group acquired a new stake in shares of Interpublic Group of Companies during the third quarter worth $60,000. Transamerica Financial Advisors Inc. lifted its holdings in shares of Interpublic Group of Companies by 243,700.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock worth $78,000 after buying an additional 2,437 shares in the last quarter. Finally, AM Squared Ltd lifted its holdings in shares of Interpublic Group of Companies by 63.2% during the third quarter. AM Squared Ltd now owns 3,100 shares of the business services provider’s stock worth $98,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds 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 Interpublic Group of Companies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the sale, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on IPG. JPMorgan Chase & Co. raised 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. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Friday, January 10th. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock opened at $28.22 on Tuesday. 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 business’s 50-day moving average price is $27.75 and its two-hundred day moving average price is $29.44. The stock has a market cap of $10.52 billion, a PE ratio of 15.42 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (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%. As a group, analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its Board of Directors has approved a share buyback 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced 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. This represents a $1.32 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio 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.