abrdn plc Buys 91,894 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

abrdn plc increased its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 23.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 488,980 shares of the business services provider’s stock after acquiring an additional 91,894 shares during the quarter. abrdn plc’s holdings in Interpublic Group of Companies were worth $15,960,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Interpublic Group of Companies by 85.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 229,511 shares of the business services provider’s stock valued at $7,491,000 after purchasing an additional 105,858 shares during the last quarter. Vest Financial LLC grew its stake in shares of Interpublic Group of Companies by 30.9% during the fourth quarter. Vest Financial LLC now owns 392,769 shares of the business services provider’s stock valued at $12,820,000 after purchasing an additional 92,692 shares during the last quarter. New York Life Investment Management LLC grew its stake in shares of Interpublic Group of Companies by 32.5% during the third quarter. New York Life Investment Management LLC now owns 99,678 shares of the business services provider’s stock valued at $2,857,000 after purchasing an additional 24,459 shares during the last quarter. UBS Group AG grew its stake in shares of Interpublic Group of Companies by 16.2% during the third quarter. UBS Group AG now owns 338,048 shares of the business services provider’s stock valued at $9,688,000 after purchasing an additional 47,184 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Interpublic Group of Companies by 212.9% during the third quarter. Qube Research & Technologies Ltd now owns 827,224 shares of the business services provider’s stock valued at $23,708,000 after purchasing an additional 562,823 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Christopher F. Carroll sold 18,382 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares in the company, valued at $1,364,958. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Andrew Bonzani sold 40,468 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the sale, the executive vice president now directly owns 70,431 shares in the company, valued at $2,267,878.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher F. Carroll sold 18,382 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now owns 42,390 shares in the company, valued at $1,364,958. The disclosure for this sale can be found here. Insiders have sold a total of 249,646 shares of company stock worth $8,038,601 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Trading Up 1.3 %

Shares of NYSE IPG opened at $31.40 on Thursday. The company’s fifty day moving average is $31.94 and its 200-day moving average is $31.35. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 2.13 and a beta of 1.13. The Interpublic Group of Companies, Inc. has a twelve month low of $27.20 and a twelve month high of $40.95. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.73.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Interpublic Group of Companies had a net margin of 10.09% and a return on equity of 30.52%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.77 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.20%. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, February 29th. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.32%.

Analyst Ratings Changes

Several analysts have recently commented on IPG shares. JPMorgan Chase & Co. decreased their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Barclays raised their price objective on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. UBS Group started coverage on shares of Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Interpublic Group of Companies from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.25.

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.