Summit Place Financial Advisors LLC Cuts Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Summit Place Financial Advisors LLC cut its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,160 shares of the business services provider’s stock after selling 7,840 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Interpublic Group of Companies were worth $1,686,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after buying an additional 3,920,975 shares during the period. Integrated Wealth Concepts LLC increased its stake in Interpublic Group of Companies by 240.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after acquiring an additional 20,395 shares during the last quarter. International Assets Investment Management LLC increased its stake in Interpublic Group of Companies by 2,679.9% in the 3rd quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock worth $965,000 after acquiring an additional 29,425 shares during the last quarter. ING Groep NV bought a new position in Interpublic Group of Companies in the 3rd quarter worth about $1,589,000. Finally, Bridgewater Associates LP increased its stake in Interpublic Group of Companies by 956.5% in the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock worth $3,313,000 after acquiring an additional 94,821 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Stock Up 1.9 %

Shares of NYSE:IPG opened at $27.56 on Wednesday. The Interpublic Group of Companies, Inc. has a 52-week low of $26.30 and a 52-week high of $35.17. The firm has a market capitalization of $10.27 billion, a P/E ratio of 15.06 and a beta of 1.11. The stock has a 50 day moving average price of $28.24 and a 200-day moving average price of $29.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) 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 anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $155.00 million in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IPG shares. BNP Paribas upgraded 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 note on Friday, January 10th. Macquarie reiterated a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. StockNews.com started coverage on Interpublic Group of Companies in a report on Thursday, February 13th. They set a “hold” rating for the company. Barclays upgraded 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 report on Friday, January 24th. Finally, UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $27.00 in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently 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.