Wellington Management Group LLP Buys 260,312 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Wellington Management Group LLP raised its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 30.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,109,155 shares of the business services provider's stock after purchasing an additional 260,312 shares during the quarter. Wellington Management Group LLP owned approximately 0.30% of Interpublic Group of Companies worth $31,079,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Prosperity Consulting Group LLC lifted its holdings in shares of Interpublic Group of Companies by 2.3% during the fourth quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock worth $595,000 after buying an additional 470 shares in the last quarter. Allworth Financial LP raised its stake in Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after purchasing an additional 480 shares in the last quarter. GeoWealth Management LLC raised its stake in 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 valued at $94,000 after purchasing an additional 573 shares in the last quarter. Xponance Inc. raised its stake in Interpublic Group of Companies by 1.0% in the fourth quarter. Xponance Inc. now owns 59,844 shares of the business services provider's stock valued at $1,677,000 after purchasing an additional 587 shares in the last quarter. Finally, Proactive Wealth Strategies LLC raised its stake in Interpublic Group of Companies by 5.8% in the fourth quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider's stock valued at $311,000 after purchasing an additional 607 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on IPG. Argus downgraded Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Barclays reduced their price target 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. UBS Group upgraded Interpublic Group of Companies from a "sell" rating to a "neutral" rating and reduced their target price for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Citigroup reiterated a "buy" rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Finally, Wall Street Zen initiated coverage on Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a "hold" rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $33.44.

Interpublic Group of Companies Stock Up 0.9%

Shares of IPG traded up $0.20 during trading hours on Wednesday, reaching $23.26. The stock had a trading volume of 1,716,735 shares, compared to its average volume of 5,430,662. The Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The firm has a 50-day simple moving average of $24.63 and a 200 day simple moving average of $26.89. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 12.71 and a beta of 1.09.

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 EPS for the quarter, beating analysts' consensus estimates 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 prior year, the firm posted $0.36 EPS. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $155.00 million in shares. This buyback authorization allows the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend is Monday, June 2nd. Interpublic Group of Companies's payout ratio is currently 100.76%.

About Interpublic Group of Companies

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.