Interpublic Group of Companies (NYSE:IPG) Trading 2.3% Higher – Time to Buy?

The Interpublic Group of Companies, Inc. (NYSE:IPG)’s stock price traded up 2.3% during mid-day trading on Monday . The company traded as high as $26.98 and last traded at $26.88. 595,529 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,892,928 shares. The stock had previously closed at $26.29.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $29.00 to $27.00 in a report on Thursday, February 13th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a report on Wednesday. They issued a “hold” rating for the company. Finally, Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $36.00 in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.50.

Interpublic Group of Companies Stock Performance

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 firm’s fifty day moving average price is $27.35 and its 200 day moving average price is $28.85. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 14.27 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. Analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

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. The ex-dividend date was Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.05%. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Interpublic Group of Companies announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $155.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction 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 sale, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IPG. Wellington Management Group LLP lifted its position in Interpublic Group of Companies by 30.7% in the fourth quarter. Wellington Management Group LLP now owns 1,109,155 shares of the business services provider’s stock valued at $31,079,000 after acquiring an additional 260,312 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Interpublic Group of Companies by 22.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 59,373 shares of the business services provider’s stock worth $1,664,000 after purchasing an additional 10,725 shares in the last quarter. Copley Financial Group Inc. lifted its holdings in shares of Interpublic Group of Companies by 4.6% in the 4th quarter. Copley Financial Group Inc. now owns 16,058 shares of the business services provider’s stock valued at $450,000 after purchasing an additional 712 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at about $11,637,000. Finally, Forum Financial Management LP grew its stake in Interpublic Group of Companies by 17.2% during the 4th quarter. Forum Financial Management LP now owns 7,612 shares of the business services provider’s stock worth $213,000 after buying an additional 1,115 shares during the last quarter. Hedge funds and other institutional investors own 98.43% 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.