Geode Capital Management LLC Acquires 81,996 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Geode Capital Management LLC grew its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,531,530 shares of the business services provider’s stock after buying an additional 81,996 shares during the period. Geode Capital Management LLC’s holdings in Interpublic Group of Companies were worth $266,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IPG. Allworth Financial LP raised its holdings in Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after acquiring an additional 480 shares during the period. OFI Invest Asset Management acquired a new position in shares of Interpublic Group of Companies during the 4th quarter worth about $36,000. Wilmington Savings Fund Society FSB bought a new stake in Interpublic Group of Companies during the 3rd quarter valued at approximately $107,000. CENTRAL TRUST Co boosted its stake in Interpublic Group of Companies by 10.6% during the 4th quarter. CENTRAL TRUST Co now owns 7,037 shares of the business services provider’s stock valued at $197,000 after purchasing an additional 675 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at approximately $203,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Down 3.6 %

Shares of IPG opened at $23.70 on Friday. The Interpublic Group of Companies, Inc. has a 12 month low of $23.67 and a 12 month high of $33.05. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 12.95 and a beta of 1.14. The company has a 50-day moving average price of $27.13 and a two-hundred day moving average price of $28.73. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate 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 fiscal year.

Interpublic Group of Companies announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $155.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 72.13%.

Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IPG. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. StockNews.com started coverage on shares of Interpublic Group of Companies in a research report on Wednesday. They set a “hold” rating for the company. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. 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 report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and a consensus target price 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.