The Manufacturers Life Insurance Company Raises Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

The Manufacturers Life Insurance Company lifted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,753 shares of the business services provider's stock after purchasing an additional 22,426 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Interpublic Group of Companies worth $10,585,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Barclays PLC raised its position in Interpublic Group of Companies by 0.8% during the third quarter. Barclays PLC now owns 1,651,753 shares of the business services provider's stock valued at $52,243,000 after buying an additional 13,546 shares during the period. Virtu Financial LLC bought a new position in Interpublic Group of Companies in the third quarter worth $206,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $107,000. Franklin Resources Inc. raised its position in Interpublic Group of Companies by 1.7% in the third quarter. Franklin Resources Inc. now owns 295,937 shares of the business services provider's stock worth $9,322,000 after purchasing an additional 4,848 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Interpublic Group of Companies by 7.4% in the third quarter. Principal Financial Group Inc. now owns 2,277,771 shares of the business services provider's stock valued at $72,041,000 after acquiring an additional 157,695 shares during the period. Institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Up 1.0 %

Shares of NYSE IPG traded up $0.26 during midday trading on Thursday, hitting $25.24. The stock had a trading volume of 2,021,903 shares, compared to its average volume of 5,152,570. The company has a market cap of $9.33 billion, a P/E ratio of 13.79 and a beta of 1.09. The business's 50 day moving average is $25.45 and its 200-day moving average is $27.58. The Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The company has a quick ratio of 1.09, a current 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 quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The business had revenue of $2 billion during 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 business's quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 100.76%.

Interpublic Group of Companies announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently commented on IPG shares. Argus lowered Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. UBS Group upgraded Interpublic Group of Companies from a "sell" rating to a "neutral" rating and cut their target price for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. BNP Paribas raised Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 target price on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and increased their price target for the company from $32.00 to $39.00 in a research note on Monday, January 27th. Finally, StockNews.com initiated coverage on shares of Interpublic Group of Companies in a report on Sunday. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Interpublic Group of Companies has a consensus rating of "Hold" and a consensus price target of $33.44.

Insiders Place Their Bets

In other 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.42% of the company's stock.

Interpublic Group of Companies Company 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.