Concurrent Investment Advisors LLC Makes New Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Concurrent Investment Advisors LLC bought a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 8,815 shares of the business services provider’s stock, valued at approximately $247,000.

A number of other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in Interpublic Group of Companies by 15.1% in 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 buying an additional 3,920,975 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Interpublic Group of Companies by 2.2% in the third 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 acquiring an additional 270,857 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Interpublic Group of Companies by 0.9% during the third quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider’s stock valued at $298,107,000 after acquiring an additional 81,265 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Interpublic Group of Companies by 25,637.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after acquiring an additional 7,374,491 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Interpublic Group of Companies by 10.5% during the third 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 acquiring an additional 417,741 shares during the period. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $27.78 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The Interpublic Group of Companies, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $35.17. The company has a market capitalization of $10.35 billion, a P/E ratio of 15.18 and a beta of 1.11. The stock has a 50 day moving average price of $27.95 and a two-hundred day moving average price of $29.68.

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 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%. Analysts expect 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 company 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 of this dividend is Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.75%. Interpublic Group of Companies’s dividend payout ratio (DPR) is 72.13%.

Interpublic Group of Companies announced that its board 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IPG shares. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research report on Friday, February 21st. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. BNP Paribas upgraded 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 note on Friday, January 10th. Finally, Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.50.

About Interpublic Group of Companies

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.