Quarry LP Has $1.82 Million Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Quarry LP increased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 893.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 64,845 shares of the business services provider’s stock after acquiring an additional 58,316 shares during the period. Quarry LP’s holdings in Interpublic Group of Companies were worth $1,817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IPG. 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 worth $31,000 after buying an additional 480 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at $36,000. GeoWealth Management LLC grew its position in Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 573 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Interpublic Group of Companies during the third quarter worth $107,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at $141,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 2.0 %

IPG stock opened at $24.58 on Friday. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 13.43 and a beta of 1.01. 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 business has a 50 day moving average price of $25.83 and a two-hundred day moving average price of $27.92.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. Analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies announced that its board has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $155.00 million in shares. This buyback authorization permits the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 5.37%. Interpublic Group of Companies’s payout ratio is 100.76%.

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the transaction, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at $3,845,263.86. This represents a 13.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. StockNews.com began coverage on Interpublic Group of Companies in a report on Saturday. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $39.00 in a research report on Monday, January 27th. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price target for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Finally, BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and a consensus price target of $33.44.

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.