Cetera Investment Advisers Grows Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Cetera Investment Advisers raised its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 52.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,853 shares of the business services provider's stock after purchasing an additional 36,803 shares during the quarter. Cetera Investment Advisers' holdings in Interpublic Group of Companies were worth $2,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of IPG. Allworth Financial LP lifted its holdings in shares of Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after acquiring an additional 480 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Interpublic Group of Companies in the 4th quarter worth approximately $36,000. GeoWealth Management LLC lifted its holdings in shares of Interpublic Group of Companies by 20.7% in the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after acquiring an additional 573 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Interpublic Group of Companies in the 4th quarter worth approximately $102,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Interpublic Group of Companies in the 4th quarter worth approximately $141,000. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Stock Down 0.7%

Interpublic Group of Companies stock traded down $0.17 during mid-day trading on Thursday, reaching $24.12. The stock had a trading volume of 758,787 shares, compared to its average volume of 5,168,959. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 13.16 and a beta of 1.09. The company has a 50-day moving average price of $25.08 and a two-hundred day moving average price of $27.25. The Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The company had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.98 billion. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. Interpublic Group of Companies's revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. On average, analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies declared that its board has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $155.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a research report on Tuesday. They set a "hold" rating on the stock. Citigroup reissued a "buy" rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $32.00 to $39.00 in a research report on Monday, January 27th. Barclays reduced their price objective on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, UBS Group raised shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $33.44.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the transaction, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. This represents a 13.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.42% of the company's stock.

Interpublic Group of Companies Company 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.