Toronto Dominion Bank Increases Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Toronto Dominion Bank boosted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 40.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 253,675 shares of the business services provider's stock after acquiring an additional 73,054 shares during the period. Toronto Dominion Bank owned 0.07% of Interpublic Group of Companies worth $7,106,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its stake in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after buying an additional 480 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter worth about $36,000. Raiffeisen Bank International AG acquired a new position in shares of Interpublic Group of Companies during the fourth quarter valued at about $42,000. GeoWealth Management LLC raised its holdings in shares of Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after buying an additional 573 shares during the last quarter. Finally, Parvin Asset Management LLC purchased a new position in Interpublic Group of Companies in the 4th quarter worth $102,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

IPG traded up $0.13 on Tuesday, hitting $23.00. 1,085,631 shares of the company's stock were exchanged, compared to its average volume of 5,420,430. The Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 12.57 and a beta of 1.09. The firm has a 50-day moving average price of $24.70 and a 200-day moving average price of $26.92. 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 issued its 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. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the company earned $0.36 EPS. The company's revenue for the quarter was down 6.9% on a year-over-year basis. As a group, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $155.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board 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 given a $0.33 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.74%. Interpublic Group of Companies's payout ratio is currently 100.76%.

Wall Street Analysts Forecast Growth

IPG has been the topic of several research reports. Argus downgraded shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Barclays dropped 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 note on Friday, April 25th. 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. UBS Group raised shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, Citigroup restated a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. One research 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. Based on data from MarketBeat, the company presently 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.