Rhumbline Advisers Has $19.68 Million Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Rhumbline Advisers lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 6.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 702,472 shares of the business services provider’s stock after selling 51,902 shares during the period. Rhumbline Advisers owned approximately 0.19% of Interpublic Group of Companies worth $19,683,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its stake in Interpublic Group of Companies by 15.1% during the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after purchasing an additional 3,920,975 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Interpublic Group of Companies by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock valued at $393,064,000 after purchasing an additional 270,857 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Interpublic Group of Companies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider’s stock worth $298,107,000 after buying an additional 81,265 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Interpublic Group of Companies by 25,637.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after buying an additional 7,374,491 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Interpublic Group of Companies by 10.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,402,349 shares of the business services provider’s stock worth $139,246,000 after buying an additional 417,741 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IPG. StockNews.com began coverage on Interpublic Group of Companies in a research note on Friday. They issued a “hold” rating on the stock. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Friday, January 10th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Finally, Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Trading Down 0.1 %

Shares of IPG stock opened at $27.53 on Friday. The company’s fifty day simple moving average is $28.13 and its two-hundred day simple moving average is $29.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a 1 year low of $26.30 and a 1 year high of $35.17. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 15.04 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last issued its 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%. As a group, analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.80%. Interpublic Group of Companies’s payout ratio is 72.13%.

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

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.