Vestcor Inc Buys 120,000 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Vestcor Inc increased its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2,031.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,907 shares of the business services provider’s stock after acquiring an additional 120,000 shares during the period. Vestcor Inc’s holdings in Interpublic Group of Companies were worth $3,528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. Ashton Thomas Securities LLC bought a new position in shares of Interpublic Group of Companies in the 3rd quarter worth $32,000. Allworth Financial LP grew 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 valued at $31,000 after purchasing an additional 480 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Interpublic Group of Companies during the 4th quarter valued at $36,000. Brooklyn Investment Group bought a new position in shares of Interpublic Group of Companies during the 3rd quarter valued at $60,000. Finally, Transamerica Financial Advisors Inc. grew 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 valued at $78,000 after purchasing an additional 2,437 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Insider Buying and Selling at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the business’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 completion of the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.

Interpublic Group of Companies Trading Down 0.9 %

NYSE:IPG opened at $26.11 on Friday. The company has a 50-day moving average price of $27.66 and a 200-day moving average price of $29.36. The Interpublic Group of Companies, Inc. has a 12 month low of $25.97 and a 12 month high of $35.17. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 14.27 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly 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%. Equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies declared that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 5.06%. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price target for the company from $32.00 to $39.00 in a research report on Monday, January 27th. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. One 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’s stock. 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 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.