Maven Securities LTD Takes $686,000 Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Maven Securities LTD purchased a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,495 shares of the business services provider’s stock, valued at approximately $686,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP grew its position 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 buying an additional 480 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Interpublic Group of Companies during the 4th quarter valued at approximately $36,000. GeoWealth Management LLC raised its holdings in 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 purchasing an additional 573 shares during the last quarter. Parvin Asset Management LLC acquired a new position in shares of Interpublic Group of Companies in the 4th quarter worth approximately $102,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at $141,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 0.1%

Interpublic Group of Companies stock opened at $25.62 on Wednesday. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 14.00 and a beta of 1.09. The firm’s fifty day moving average price is $25.33 and its two-hundred day moving average price is $27.43. The Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. On average, 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 announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IPG shares. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $39.00 in a report on Monday, January 27th. StockNews.com began coverage on Interpublic Group of Companies in a research note on Monday. They set a “hold” rating for the company. Barclays dropped their price target on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $27.00 in a research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.44.

Interpublic Group of Companies Company 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.