Magnetar Financial LLC Boosts Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Magnetar Financial LLC raised its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 12,548.6% during the fourth quarter, HoldingsChannel reports. The firm owned 2,425,247 shares of the business services provider’s stock after purchasing an additional 2,406,073 shares during the period. Interpublic Group of Companies comprises 1.6% of Magnetar Financial LLC’s portfolio, making the stock its 13th largest holding. Magnetar Financial LLC’s holdings in Interpublic Group of Companies were worth $67,955,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its position in Interpublic Group of Companies by 75.8% during the 4th 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 during the period. OFI Invest Asset Management purchased a new position in shares of Interpublic Group of Companies in the 4th quarter worth approximately $36,000. Brooklyn Investment Group purchased a new position in shares of Interpublic Group of Companies in the 3rd quarter worth approximately $60,000. Transamerica Financial Advisors Inc. grew its position 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 during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Interpublic Group of Companies in the 3rd quarter worth approximately $107,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG opened at $26.66 on Thursday. 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 12 month low of $25.85 and a 12 month high of $33.29. The company has a 50 day simple moving average of $27.55 and a two-hundred day simple moving average of $29.18. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 14.57 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies declared that its board has initiated a stock repurchase 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 143,373 shares in the company, valued at $3,845,263.86. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. BNP Paribas raised 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 research report on Friday, January 10th. Finally, StockNews.com started coverage on shares of Interpublic Group of Companies in a research report on Monday. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and an average target price of $33.50.

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.