Tower Research Capital LLC TRC Boosts Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Tower Research Capital LLC TRC raised its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 236.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,294 shares of the business services provider's stock after purchasing an additional 31,829 shares during the period. Tower Research Capital LLC TRC's holdings in Interpublic Group of Companies were worth $1,269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after buying an additional 480 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Interpublic Group of Companies during the fourth quarter worth about $36,000. GeoWealth Management LLC grew its holdings in shares of Interpublic Group of Companies by 20.7% during the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $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 third quarter worth about $107,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at about $141,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. raised Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Barclays cut their target price on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating on the stock in a report on Friday. UBS Group upgraded shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. BNP Paribas upgraded shares of Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price objective on the stock in a research note on Friday, January 10th. Finally, Citigroup reiterated a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $33.44.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock traded up $0.07 on Tuesday, reaching $24.90. 1,308,950 shares of the stock were exchanged, compared to its average volume of 5,114,873. The firm has a market capitalization of $9.28 billion, a PE ratio of 13.60 and a beta of 1.01. The Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The business has a fifty day moving average price of $25.77 and a two-hundred day moving average price of $27.85. 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 released its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The firm's quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 100.76%.

Interpublic Group of Companies announced that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares in the company, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.42% of the company's stock.

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.