Northern Trust Corp Has $146.82 Million Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Northern Trust Corp lifted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 24.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,239,927 shares of the business services provider's stock after buying an additional 1,025,589 shares during the quarter. Northern Trust Corp owned about 1.41% of Interpublic Group of Companies worth $146,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP raised its position in shares of Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after acquiring an additional 480 shares during the last quarter. OFI Invest Asset Management acquired a new position in Interpublic Group of Companies during the 4th quarter valued at about $36,000. GeoWealth Management LLC boosted its stake in shares of Interpublic Group of Companies by 20.7% in the 4th 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 during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $107,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Interpublic Group of Companies during the fourth quarter worth approximately $141,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Analyst Upgrades and Downgrades

IPG has been the subject of a number of analyst reports. BNP Paribas raised shares of Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 target price for the company in a report on Friday, January 10th. UBS Group raised Interpublic Group of Companies from a "sell" rating to a "neutral" rating and lowered their price target for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Citigroup restated a "buy" rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Argus lowered shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $33.44.

Insider Transactions at Interpublic Group of Companies

In related 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 directly owns 143,373 shares of the company's stock, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.42% of the company's stock.

Interpublic Group of Companies Stock Down 0.9 %

Shares of Interpublic Group of Companies stock traded down $0.23 during trading on Wednesday, reaching $24.81. The stock had a trading volume of 1,850,989 shares, compared to its average volume of 5,145,627. 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 $9.17 billion, a price-to-earnings ratio of 13.56 and a beta of 1.09. The stock has a fifty day moving average price of $25.49 and a two-hundred day moving average price of $27.60. The Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week 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 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 firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. The business's revenue was down 6.9% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Monday, March 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 5.32%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 100.76%.

Interpublic Group of Companies declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are 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.