South Dakota Investment Council Buys Shares of 10,700 The Interpublic Group of Companies, Inc. (NYSE:IPG)

South Dakota Investment Council purchased a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,700 shares of the business services provider’s stock, valued at approximately $300,000.

Other institutional investors have also modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new stake in Interpublic Group of Companies in the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Interpublic Group of Companies during the third quarter worth $32,000. Allworth Financial LP grew its position in shares of Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 480 shares during the period. Brooklyn Investment Group acquired a new position in Interpublic Group of Companies in the third quarter valued at $60,000. Finally, Transamerica Financial Advisors Inc. lifted its position in Interpublic Group of Companies by 243,700.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock worth $78,000 after buying an additional 2,437 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on IPG shares. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $39.00 in a report on Monday, January 27th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Friday. They set a “hold” rating on the stock. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $27.00 in a research note 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 target price on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.50.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $27.56 on Tuesday. The Interpublic Group of Companies, Inc. has a twelve month low of $26.30 and a twelve month high of $35.17. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 15.06 and a beta of 1.11. 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’s fifty day simple moving average is $28.03 and its 200 day simple moving average is $29.72.

Interpublic Group of Companies (NYSE:IPG) last issued its 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%. As a group, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

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 given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 72.13%.

Interpublic Group of Companies declared that its Board of Directors has authorized 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.