Assetmark Inc. Purchases 1,238 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Assetmark Inc. increased its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,496 shares of the business services provider’s stock after purchasing an additional 1,238 shares during the period. Assetmark Inc.’s holdings in Interpublic Group of Companies were worth $1,191,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $32,000. Allworth Financial LP boosted its holdings in Interpublic Group of Companies by 75.8% during the fourth 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. Brooklyn Investment Group bought a new stake in shares of Interpublic Group of Companies in the 3rd quarter valued at approximately $60,000. Transamerica Financial Advisors Inc. raised its holdings in shares of Interpublic Group of Companies by 243,700.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock worth $78,000 after buying an additional 2,437 shares in the last quarter. Finally, AM Squared Ltd lifted its position in shares of Interpublic Group of Companies by 63.2% during the 3rd quarter. AM Squared Ltd now owns 3,100 shares of the business services provider’s stock worth $98,000 after buying an additional 1,200 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $39.00 in a report on Monday, January 27th. StockNews.com started coverage on Interpublic Group of Companies in a report on Sunday. They issued a “hold” rating on the stock. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $27.36 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 1-year low of $26.15 and a 1-year high of $35.17. The stock’s 50-day moving average is $27.74 and its 200-day moving average is $29.41. The stock has a market cap of $10.20 billion, a P/E ratio of 14.95 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. Equities research 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.33 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 4.82%. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

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

Insider Activity at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is owned by corporate insiders.

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.