CIBC Asset Management Inc Purchases 1,060 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

CIBC Asset Management Inc increased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 65,251 shares of the business services provider’s stock after purchasing an additional 1,060 shares during the period. CIBC Asset Management Inc’s holdings in Interpublic Group of Companies were worth $1,828,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of Interpublic Group of Companies by 25,637.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after acquiring an additional 7,374,491 shares during the period. State Street Corp lifted its holdings in Interpublic Group of Companies by 15.1% during the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after purchasing an additional 3,920,975 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Interpublic Group of Companies by 10.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,402,349 shares of the business services provider’s stock worth $139,246,000 after purchasing an additional 417,741 shares during the period. Kingsview Wealth Management LLC bought a new position in Interpublic Group of Companies during the fourth quarter worth $9,041,000. Finally, Vest Financial LLC increased its holdings in shares of Interpublic Group of Companies by 31.5% in the fourth quarter. Vest Financial LLC now owns 1,205,662 shares of the business services provider’s stock valued at $33,783,000 after purchasing an additional 289,014 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Down 1.8 %

Shares of IPG stock opened at $27.08 on Friday. The stock has a market cap of $10.09 billion, a P/E ratio of 14.80 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 1 year low of $26.30 and a 1 year 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 50 day simple moving average of $28.09 and a 200 day simple moving average of $29.74.

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 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%. On average, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management 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 4.88%. Interpublic Group of Companies’s payout ratio is 72.13%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research report on Friday. They set a “hold” rating for the company. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and upped their target price for the company from $32.00 to $39.00 in a research report on Monday, January 27th. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Finally, UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.50.

About Interpublic Group of Companies

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.