Kestra Investment Management LLC Buys 7,304 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kestra Investment Management LLC boosted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 64.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,562 shares of the business services provider’s stock after purchasing an additional 7,304 shares during the period. Kestra Investment Management LLC’s holdings in Interpublic Group of Companies were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new position in Interpublic Group of Companies during the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new position in Interpublic Group of Companies during the third quarter valued at approximately $32,000. Allworth Financial LP lifted its position in Interpublic Group of Companies by 75.8% during the fourth 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. Brooklyn Investment Group bought a new position in Interpublic Group of Companies during the third quarter valued at approximately $60,000. Finally, Raleigh Capital Management Inc. lifted its position in Interpublic Group of Companies by 31.8% during the third quarter. Raleigh Capital Management Inc. now owns 2,356 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 568 shares during the period. Institutional investors own 98.43% of the company’s stock.

Analysts Set New Price Targets

IPG has been the topic of several recent research reports. Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research report on Thursday, February 13th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, Macquarie reiterated a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Stock Up 1.9 %

Shares of IPG stock opened at $27.56 on Wednesday. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 13.00 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a one year low of $26.30 and a one year high of $35.17. The company’s fifty day moving average price is $28.24 and its 200-day moving average price is $29.79. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 4.79%. Interpublic Group of Companies’s payout ratio is 72.13%.

Interpublic Group of Companies declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $155.00 million in shares. This buyback authorization authorizes the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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.