Neo Ivy Capital Management Purchases New Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Neo Ivy Capital Management acquired a new position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 68,634 shares of the business services provider's stock, valued at approximately $1,923,000.

Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its position in shares of Interpublic Group of Companies by 139.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider's stock worth $370,157,000 after acquiring an additional 7,693,636 shares during the last quarter. First Trust Advisors LP raised its holdings 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. raised 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 purchasing an additional 511,607 shares during the last quarter. Invesco Ltd. lifted its position in Interpublic Group of Companies by 14.8% during the 4th quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider's stock valued at $287,618,000 after purchasing an additional 1,320,345 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Interpublic Group of Companies by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 9,531,530 shares of the business services provider's stock valued at $266,614,000 after purchasing an additional 81,996 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Wall Street Analysts Forecast Growth

IPG has been the subject of a number of recent research reports. UBS Group raised shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. Wall Street Zen assumed coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating on the stock. Citigroup restated a "buy" rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $32.00 to $39.00 in a report on Monday, January 27th. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Interpublic Group of Companies currently has an average rating of "Hold" and an average price target of $33.44.

Insider Buying and Selling

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the transaction, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. This trade represents a 13.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Interpublic Group of Companies Trading Down 0.2%

NYSE:IPG traded down $0.05 on Monday, reaching $24.01. The company's stock had a trading volume of 3,920,134 shares, compared to its average volume of 5,208,409. The firm has a market cap of $8.88 billion, a PE ratio of 13.12 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The business's 50-day moving average price is $24.99 and its two-hundred day moving average price is $27.13. The Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05.

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

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.50%. Interpublic Group of Companies's payout ratio is 100.76%.

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

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.