Bank of Montreal Can Raises Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Bank of Montreal Can raised its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 19.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 711,573 shares of the business services provider’s stock after purchasing an additional 116,184 shares during the period. Bank of Montreal Can’s holdings in Interpublic Group of Companies were worth $19,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP grew its stake 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 valued at $31,000 after acquiring an additional 480 shares during the period. OFI Invest Asset Management acquired a new position in Interpublic Group of Companies during the fourth quarter worth $36,000. Wilmington Savings Fund Society FSB purchased a new position in Interpublic Group of Companies during the third quarter valued at $107,000. CENTRAL TRUST Co increased its stake in shares of Interpublic Group of Companies by 10.6% during the fourth quarter. CENTRAL TRUST Co now owns 7,037 shares of the business services provider’s stock worth $197,000 after purchasing an additional 675 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Interpublic Group of Companies during the 4th quarter worth about $203,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is owned by insiders.

Interpublic Group of Companies Stock Up 2.2 %

Shares of IPG opened at $24.57 on Friday. The Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $26.44 and a two-hundred day simple moving average of $28.40. The company has a market capitalization of $9.16 billion, a PE ratio of 13.43 and a beta of 1.01.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data 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 analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its board has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.33 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 5.37%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 72.13%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $39.00 in a report on Monday, January 27th. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Friday, January 10th. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. Finally, StockNews.com began coverage on shares of Interpublic Group of Companies in a report on Thursday. They set a “hold” rating for the company. One research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies 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.