Empirical Finance LLC Makes New $251,000 Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Empirical Finance LLC acquired a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,697 shares of the business services provider’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Interpublic Group of Companies by 1.5% during the 3rd quarter. BlackRock Inc. now owns 39,964,329 shares of the business services provider’s stock worth $1,465,491,000 after purchasing an additional 609,280 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Interpublic Group of Companies by 21.7% during the 3rd 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 purchasing an additional 1,529,332 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Interpublic Group of Companies by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,021,770 shares of the business services provider’s stock worth $293,695,000 after purchasing an additional 144,147 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Interpublic Group of Companies by 182.6% during the 3rd quarter. Royal Bank of Canada now owns 4,563,285 shares of the business services provider’s stock worth $167,337,000 after purchasing an additional 2,948,475 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Interpublic Group of Companies by 54.7% during the 3rd quarter. Goldman Sachs Group Inc. now owns 3,705,353 shares of the business services provider’s stock worth $135,876,000 after purchasing an additional 1,310,512 shares in the last quarter. Hedge funds and other institutional investors own 99.14% of the company’s stock.

In related news, CAO Christopher F. Carroll sold 38,000 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $36.03, for a total value of $1,369,140.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ellen Tobi Johnson sold 4,222 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $35.71, for a total value of $150,767.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,417 shares of company stock valued at $2,734,172. 0.75% of the stock is currently owned by corporate insiders.

Shares of IPG opened at $34.49 on Tuesday. The stock has a fifty day moving average price of $35.38 and a two-hundred day moving average price of $36.05. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.03 and a current ratio of 1.03. The Interpublic Group of Companies, Inc. has a 52-week low of $29.38 and a 52-week high of $39.98. The company has a market cap of $13.59 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 3.10 and a beta of 1.00.

Interpublic Group of Companies (NYSE:IPGGet Rating) last released its earnings results on Thursday, February 10th. The business services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. Interpublic Group of Companies had a return on equity of 32.29% and a net margin of 9.30%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. As a group, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.69 EPS for the current fiscal year.

Interpublic Group of Companies declared that its board has initiated a share repurchase plan on Thursday, February 10th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, February 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.36%. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.27. Interpublic Group of Companies’s payout ratio is presently 48.54%.

IPG has been the topic of a number of recent analyst reports. Argus raised Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Monday, March 21st. Morgan Stanley raised their price objective on Interpublic Group of Companies from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, February 11th. StockNews.com initiated coverage on Interpublic Group of Companies in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Bank of America downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating and set a $32.00 price objective on the stock. in a research note on Thursday, January 27th. Finally, Barclays lowered Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $47.00 to $42.00 in a report on Monday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.90.

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.

Further Reading

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

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