Signaturefd LLC acquired a new position in Interpublic Group of Companies (NYSE:IPG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,782 shares of the business services provider’s stock, valued at approximately $110,000.
Several other institutional investors have also modified their holdings of IPG. Itau Unibanco Holding S.A. bought a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $113,000. NuWave Investment Management LLC bought a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $129,000. Chicago Equity Partners LLC bought a new stake in shares of Interpublic Group of Companies in the first quarter worth $200,000. MML Investors Services LLC bought a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $201,000. Finally, Zeke Capital Advisors LLC bought a new stake in shares of Interpublic Group of Companies in the first quarter worth $201,000. 99.49% of the stock is currently owned by institutional investors.
In other news, CAO Christopher F. Carroll sold 21,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $23.62, for a total transaction of $496,020.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary Guilfoile sold 8,392 shares of the company’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $24.04, for a total transaction of $201,743.68. The disclosure for this sale can be found here. Insiders have sold 490,223 shares of company stock worth $11,575,541 in the last quarter. Company insiders own 1.32% of the company’s stock.
IPG has been the topic of several analyst reports. Pivotal Research reissued a “buy” rating and issued a $26.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, January 23rd. Zacks Investment Research raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Bank of America cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 25th. Morgan Stanley upped their price target on shares of Interpublic Group of Companies to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, ValuEngine cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Interpublic Group of Companies has an average rating of “Hold” and a consensus price target of $25.82.
Shares of IPG opened at $23.80 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.04 and a beta of 1.30. Interpublic Group of Companies has a 12 month low of $18.30 and a 12 month high of $26.01.
Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Friday, April 27th. The business services provider reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.02). Interpublic Group of Companies had a net margin of 6.55% and a return on equity of 26.05%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the company posted $0.05 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. sell-side analysts predict that Interpublic Group of Companies will post 1.75 EPS for the current year.
Interpublic Group of Companies declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 14th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
Interpublic Group of Companies Profile
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
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