ClearAlpha Technologies LP Invests $2.66 Million in The Interpublic Group of Companies, Inc. (NYSE:IPG)

ClearAlpha Technologies LP bought a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 95,000 shares of the business services provider’s stock, valued at approximately $2,662,000. Interpublic Group of Companies makes up approximately 1.8% of ClearAlpha Technologies LP’s portfolio, making the stock its 14th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of 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 purchasing an additional 480 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Interpublic Group of Companies during the 4th quarter worth about $36,000. GeoWealth Management LLC boosted its position in shares of Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after acquiring an additional 573 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at about $107,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter worth about $141,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Insider Transactions 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $23.91 on Monday. 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 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 50-day simple moving average of $26.11 and a 200-day simple moving average of $28.13. The company has a market capitalization of $8.91 billion, a PE ratio of 13.07 and a beta of 1.01.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 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 declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $155.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IPG. Citigroup reaffirmed a “buy” rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. BNP Paribas upgraded shares of 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. StockNews.com began coverage on Interpublic Group of Companies in a research report on Friday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus target price 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.