Norinchukin Bank The Acquires 6,290 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Norinchukin Bank The grew its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 30.2% in the fourth quarter, HoldingsChannel reports. The fund owned 27,087 shares of the business services provider’s stock after purchasing an additional 6,290 shares during the quarter. Norinchukin Bank The’s holdings in Interpublic Group of Companies were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Allworth Financial LP boosted 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 worth $31,000 after purchasing an additional 480 shares during the period. OFI Invest Asset Management bought a new position in Interpublic Group of Companies in the 4th quarter worth $36,000. GeoWealth Management LLC increased its stake in Interpublic Group of Companies by 20.7% in the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after buying an additional 573 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Interpublic Group of Companies during the third quarter valued at about $107,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Interpublic Group of Companies during the fourth quarter valued at about $141,000. 98.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on IPG shares. Citigroup reiterated a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a report on Friday, April 18th. They issued a “hold” rating on the stock. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. Finally, UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and an average target price of $33.67.

Insiders Place Their Bets

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction dated Monday, March 3rd. The shares were 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 of the company’s stock, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by insiders.

Interpublic Group of Companies Stock Up 1.7 %

Shares of NYSE IPG opened at $23.90 on Wednesday. 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 Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The firm’s 50-day moving average price is $25.99 and its 200-day moving average price is $28.05. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 13.06 and a beta of 1.01.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data 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%. On average, 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 Announces Dividend

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

Interpublic Group of Companies declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to buyback $155.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Interpublic Group of Companies

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.