Everence Capital Management Inc. Boosts Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Everence Capital Management Inc. raised its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 52.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,620 shares of the business services provider’s stock after buying an additional 12,630 shares during the quarter. Everence Capital Management Inc.’s holdings in Interpublic Group of Companies were worth $1,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IPG. Marino Stram & Associates LLC lifted its stake in Interpublic Group of Companies by 1.2% during the fourth quarter. Marino Stram & Associates LLC now owns 26,654 shares of the business services provider’s stock worth $870,000 after purchasing an additional 315 shares during the last quarter. Flputnam Investment Management Co. lifted its stake in Interpublic Group of Companies by 73.8% during the fourth quarter. Flputnam Investment Management Co. now owns 30,254 shares of the business services provider’s stock worth $988,000 after purchasing an additional 12,845 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in Interpublic Group of Companies by 4.6% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 31,778 shares of the business services provider’s stock worth $1,037,000 after purchasing an additional 1,404 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Interpublic Group of Companies by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 998,829 shares of the business services provider’s stock worth $32,602,000 after purchasing an additional 15,392 shares during the last quarter. Finally, Capital Advisors Inc. OK lifted its stake in Interpublic Group of Companies by 4.5% during the fourth quarter. Capital Advisors Inc. OK now owns 564,010 shares of the business services provider’s stock worth $18,409,000 after purchasing an additional 24,396 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Trading Down 0.2 %

IPG opened at $30.35 on Wednesday. The business has a 50 day simple moving average of $32.05 and a two-hundred day simple moving average of $31.28. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 2.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.06 and a quick ratio of 1.06. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Interpublic Group of Companies had a return on equity of 30.52% and a net margin of 10.09%. Interpublic Group of Companies’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.02 EPS. Analysts predict that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.33 per share. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, February 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.35%. Interpublic Group of Companies’s dividend payout ratio is 46.32%.

Wall Street Analysts Forecast Growth

IPG has been the subject of several research analyst reports. UBS Group initiated coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They set a “neutral” rating and a $36.00 price target for the company. JPMorgan Chase & Co. lowered their target price on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Barclays boosted their target price on 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. Finally, Wells Fargo & Company boosted their target price on 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.25.

Insiders Place Their Bets

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 40,393 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the transaction, the chief financial officer now owns 88,350 shares in the company, valued at approximately $2,844,870. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Interpublic Group of Companies news, CEO Philippe Krakowsky sold 150,403 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the transaction, the chief executive officer now owns 415,776 shares in the company, valued at approximately $13,387,987.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ellen Tobi Johnson sold 40,393 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $1,300,654.60. Following the transaction, the chief financial officer now owns 88,350 shares in the company, valued at approximately $2,844,870. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,646 shares of company stock worth $8,038,601. Company insiders own 0.33% of the company’s stock.

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.