Fisher Funds Management LTD Makes New $2.36 Million Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Fisher Funds Management LTD purchased a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 4th quarter, Holdings Channel reports. The fund purchased 84,361 shares of the business services provider’s stock, valued at approximately $2,360,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IPG. State Street Corp increased 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 worth $943,993,000 after purchasing an additional 3,920,975 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Interpublic Group of Companies by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock worth $393,064,000 after buying an additional 270,857 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Interpublic Group of Companies by 0.9% during the third quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider’s stock valued at $298,107,000 after buying an additional 81,265 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Interpublic Group of Companies by 25,637.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock valued at $207,439,000 after acquiring an additional 7,374,491 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Interpublic Group of Companies by 10.5% in 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 valued at $139,246,000 after acquiring an additional 417,741 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $27.08 on Monday. 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 firm has a market cap of $10.09 billion, a PE ratio of 14.80 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 12 month low of $26.30 and a 12 month high of $35.17. The stock has a fifty day moving average price of $28.03 and a 200-day moving average price of $29.72.

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 for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. Equities 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 has initiated a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in 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 usually an indication that the company’s management believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The business 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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Analyst Ratings Changes

A number of research analysts have commented on IPG shares. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. Barclays raised 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 research report on Friday, January 24th. Finally, BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Friday, January 10th. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Company 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.