Proficio Capital Partners LLC Makes New $2.33 Million Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Proficio Capital Partners LLC acquired a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 82,967 shares of the business services provider’s stock, valued at approximately $2,325,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP lifted 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 during the 3rd quarter valued at $60,000. Transamerica Financial Advisors Inc. raised its position in shares of Interpublic Group of Companies by 243,700.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock valued at $78,000 after purchasing an additional 2,437 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Interpublic Group of Companies during the 3rd quarter valued at $107,000. Finally, Private Trust Co. NA boosted its holdings in Interpublic Group of Companies by 39.3% in the 3rd quarter. Private Trust Co. NA now owns 3,991 shares of the business services provider’s stock worth $126,000 after buying an additional 1,125 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’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 transaction of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares in the company, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IPG shares. 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. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $39.00 in a research report on Monday, January 27th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, StockNews.com started coverage on Interpublic Group of Companies in a report on Monday. They set a “hold” rating on the stock. One research 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’s stock. According to MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Stock Up 1.4 %

Shares of IPG opened at $26.59 on Wednesday. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 14.53 and a beta of 1.14. The Interpublic Group of Companies, Inc. has a 52 week low of $25.85 and a 52 week high of $33.29. The stock’s 50-day moving average price is $27.57 and its 200-day moving average price is $29.19. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

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 for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

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

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.96%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies’s payout ratio is 72.13%.

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.