Neo Ivy Capital Management Takes $1.92 Million Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Neo Ivy Capital Management purchased a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 68,634 shares of the business services provider's stock, valued at approximately $1,923,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. Canada Pension Plan Investment Board increased its position in Interpublic Group of Companies by 139.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider's stock valued at $370,157,000 after acquiring an additional 7,693,636 shares during the period. First Trust Advisors LP raised its position in Interpublic Group of Companies by 13.0% during the 4th quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider's stock worth $363,584,000 after purchasing an additional 1,492,019 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Interpublic Group of Companies by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider's stock worth $362,538,000 after buying an additional 511,607 shares during the period. Invesco Ltd. grew its position in shares of Interpublic Group of Companies by 14.8% in the 4th quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider's stock valued at $287,618,000 after buying an additional 1,320,345 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Interpublic Group of Companies by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 9,531,530 shares of the business services provider's stock valued at $266,614,000 after buying an additional 81,996 shares during the period. Institutional investors own 98.43% of the company's stock.

Insider Activity

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares of the company's stock, valued at approximately $3,845,263.86. This trade represents a 13.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.42% of the company's stock.

Interpublic Group of Companies Stock Down 0.1%

Shares of NYSE:IPG traded down $0.02 during mid-day trading on Wednesday, hitting $24.47. 2,275,837 shares of the company traded hands, compared to its average volume of 5,203,468. The stock has a market cap of $9.05 billion, a P/E ratio of 13.37 and a beta of 1.09. The stock has a 50-day moving average price of $24.90 and a two-hundred day moving average price of $27.07. The Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The business's revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. On average, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies declared that its board has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $155.00 million in shares. This repurchase authorization allows the business services provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Monday, June 2nd. Interpublic Group of Companies's payout ratio is 100.76%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IPG. Barclays reduced their target price on Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Citigroup reiterated a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Argus cut shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Wall Street Zen began coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. Finally, UBS Group raised shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of "Hold" and an average price target of $33.44.

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.