Shell Asset Management Co. Boosts Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Shell Asset Management Co. increased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 58.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,687 shares of the business services provider's stock after buying an additional 17,310 shares during the quarter. Shell Asset Management Co.'s holdings in Interpublic Group of Companies were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Sherbrooke Park Advisers LLC acquired a new stake in shares of Interpublic Group of Companies during the fourth quarter worth $223,000. Sona Asset Management US LLC purchased a new position in Interpublic Group of Companies in the 4th quarter worth $8,613,000. Rafferty Asset Management LLC lifted its position in Interpublic Group of Companies by 11.5% during the 4th quarter. Rafferty Asset Management LLC now owns 32,335 shares of the business services provider's stock worth $906,000 after acquiring an additional 3,345 shares during the period. Raiffeisen Bank International AG purchased a new stake in Interpublic Group of Companies during the 4th quarter valued at about $42,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Interpublic Group of Companies in the fourth quarter valued at about $151,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays dropped their target price on 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. Argus downgraded shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Citigroup reissued a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and upped their price target for the company from $32.00 to $39.00 in a report on Monday, January 27th. Finally, UBS Group raised Interpublic Group of Companies from a "sell" rating to a "neutral" rating and cut their price target for the stock 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 assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $33.44.

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction that occurred on 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 owns 143,373 shares of the company's stock, valued at $3,845,263.86. This represents a 13.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by insiders.

Interpublic Group of Companies Price Performance

NYSE IPG traded down $0.94 during trading hours on Wednesday, reaching $24.28. The company's stock had a trading volume of 3,522,762 shares, compared to its average volume of 5,186,075. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 13.27 and a beta of 1.09. The company's 50-day moving average is $25.13 and its two-hundred day moving average is $27.27. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. 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 released its quarterly earnings results 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. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter last year, the company earned $0.36 EPS. The firm's revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

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