Hsbc Holdings PLC Increases Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Hsbc Holdings PLC lifted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 18.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,337,315 shares of the business services provider's stock after purchasing an additional 206,517 shares during the quarter. Hsbc Holdings PLC owned 0.36% of Interpublic Group of Companies worth $37,514,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its position in 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 valued at $370,157,000 after buying an additional 7,693,636 shares during the period. Pacer Advisors Inc. raised its stake in Interpublic Group of Companies by 25,637.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider's stock valued at $207,439,000 after purchasing an additional 7,374,491 shares in the last quarter. Amundi grew its position in Interpublic Group of Companies by 133.6% in the fourth quarter. Amundi now owns 5,402,201 shares of the business services provider's stock worth $150,393,000 after acquiring an additional 3,089,387 shares in the last quarter. Magnetar Financial LLC lifted its stake in Interpublic Group of Companies by 12,548.6% in the fourth quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider's stock worth $67,955,000 after purchasing an additional 2,406,073 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Interpublic Group of Companies in the fourth quarter worth $51,794,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Stock Down 0.9 %

Interpublic Group of Companies stock traded down $0.23 during trading hours on Thursday, hitting $24.89. The stock had a trading volume of 1,364,268 shares, compared to its average volume of 6,543,470. The stock's 50-day moving average price is $25.68 and its 200-day moving average price is $27.81. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The stock has a market capitalization of $9.28 billion, a P/E ratio of 13.61 and a beta of 1.01.

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 for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The firm's revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies's payout ratio is currently 100.76%.

Interpublic Group of Companies declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $155.00 million in shares. This buyback authorization permits the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IPG shares. Citigroup reiterated a "buy" rating and issued a $35.00 price objective 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 raised their target price for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Barclays reduced their price target on shares of 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. BNP Paribas upgraded shares of Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price objective for the company in a report on Friday, January 10th. Finally, StockNews.com assumed coverage on Interpublic Group of Companies in a report on Saturday, April 26th. They set a "hold" rating on the stock. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $33.44.

Insiders Place Their Bets

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 sale, the chief financial officer now 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.42% of the company's stock.

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.