ClearAlpha Technologies LP Acquires Shares of 95,000 The Interpublic Group of Companies, Inc. (NYSE:IPG)

ClearAlpha Technologies LP purchased a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 95,000 shares of the business services provider’s stock, valued at approximately $2,662,000. Interpublic Group of Companies comprises approximately 1.8% of ClearAlpha Technologies LP’s portfolio, making the stock its 14th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Interpublic Group of Companies by 0.8% during the 3rd quarter. Barclays PLC now owns 1,651,753 shares of the business services provider’s stock valued at $52,243,000 after buying an additional 13,546 shares during the last quarter. Virtu Financial LLC acquired a new position in Interpublic Group of Companies during the 3rd quarter valued at approximately $206,000. Arvest Bank Trust Division acquired a new stake in Interpublic Group of Companies in the third quarter worth $2,499,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Interpublic Group of Companies during the third quarter valued at $107,000. Finally, Tidal Investments LLC increased its holdings in shares of Interpublic Group of Companies by 13.1% in the 3rd quarter. Tidal Investments LLC now owns 139,984 shares of the business services provider’s stock worth $4,428,000 after acquiring an additional 16,187 shares during the period. 98.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 143,373 shares in the company, valued at $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.

Interpublic Group of Companies Trading Up 2.8 %

Shares of NYSE IPG opened at $23.91 on Monday. The business has a 50 day simple moving average of $26.11 and a 200 day simple moving average of $28.13. The Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 13.07 and a beta of 1.01. 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 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 net margin of 6.45% and a return on equity of 27.10%. On average, 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 announced that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The company also recently announced 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 5.52%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Wall Street Analyst Weigh In

IPG has been the subject of a number of recent analyst reports. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Citigroup restated a “buy” rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. StockNews.com began coverage on Interpublic Group of Companies in a research report on Friday. They set a “hold” rating on the stock. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, January 10th. Finally, Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and an average price target of $33.67.

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.