The Interpublic Group of Companies, Inc. (NYSE:IPG) Director Jocelyn Carter-Miller Acquires 6,764 Shares

The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) Director Jocelyn Carter-Miller bought 6,764 shares of the firm’s stock in a transaction on Friday, April 29th. The shares were bought at an average price of $33.26 per share, with a total value of $224,970.64. Following the completion of the purchase, the director now owns 44,714 shares in the company, valued at approximately $1,487,187.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Interpublic Group of Companies stock opened at $33.22 on Wednesday. The company has a market capitalization of $13.08 billion, a P/E ratio of 12.98, a P/E/G ratio of 2.73 and a beta of 0.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average of $34.99 and a 200 day moving average of $35.82. The Interpublic Group of Companies, Inc. has a fifty-two week low of $30.45 and a fifty-two week high of $39.98.

Interpublic Group of Companies (NYSE:IPGGet Rating) last issued its earnings results on Thursday, April 28th. The business services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.07. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.17 billion. Interpublic Group of Companies had a net margin of 9.67% and a return on equity of 31.10%. Interpublic Group of Companies’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. Analysts forecast that The Interpublic Group of Companies, Inc. will post 2.72 EPS for the current year.

Interpublic Group of Companies declared that its board has approved a stock repurchase plan on Thursday, February 10th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Tuesday, March 1st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Monday, February 28th. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.27. Interpublic Group of Companies’s dividend payout ratio is 45.31%.

Several equities research analysts have recently commented on IPG shares. Morgan Stanley upped their price objective on Interpublic Group of Companies from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, February 11th. StockNews.com started coverage on Interpublic Group of Companies in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Argus upgraded Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Monday, March 21st. Bank of America lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating and set a $32.00 price objective for the company. in a research note on Thursday, January 27th. Finally, Barclays lowered Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $47.00 to $42.00 in a research note on Monday, March 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.90.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPG. Royal Bank of Canada boosted its holdings in shares of Interpublic Group of Companies by 182.6% during the 3rd quarter. Royal Bank of Canada now owns 4,563,285 shares of the business services provider’s stock valued at $167,337,000 after purchasing an additional 2,948,475 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Interpublic Group of Companies by 1,840.6% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,724,153 shares of the business services provider’s stock valued at $99,895,000 after purchasing an additional 2,583,775 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Interpublic Group of Companies by 21.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,583,497 shares of the business services provider’s stock valued at $314,756,000 after purchasing an additional 1,529,332 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Interpublic Group of Companies by 54.7% during the 3rd quarter. Goldman Sachs Group Inc. now owns 3,705,353 shares of the business services provider’s stock valued at $135,876,000 after purchasing an additional 1,310,512 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Interpublic Group of Companies by 355.2% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,477,617 shares of the business services provider’s stock valued at $54,184,000 after buying an additional 1,152,989 shares in the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

About Interpublic Group of Companies (Get Rating)

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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