MML Investors Services LLC Raises Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Posted by on Mar 4th, 2023

MML Investors Services LLC grew its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 10.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,782 shares of the business services provider’s stock after buying an additional 3,631 shares during the period. MML Investors Services LLC’s holdings in Interpublic Group of Companies were worth $1,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Ten Capital Wealth Advisors LLC acquired a new stake in shares of Interpublic Group of Companies in the third quarter valued at about $31,000. Private Trust Co. NA acquired a new stake in shares of Interpublic Group of Companies in the second quarter valued at about $36,000. Ronald Blue Trust Inc. acquired a new stake in shares of Interpublic Group of Companies in the second quarter valued at about $41,000. Steward Partners Investment Advisory LLC raised its position in shares of Interpublic Group of Companies by 47.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,775 shares of the business services provider’s stock valued at $49,000 after buying an additional 569 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Interpublic Group of Companies in the third quarter valued at about $76,000. 96.75% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $35.70 on Friday. The Interpublic Group of Companies, Inc. has a 1-year low of $25.14 and a 1-year high of $39.52. The stock has a market cap of $13.75 billion, a PE ratio of 15.00, a P/E/G ratio of 2.73 and a beta of 1.11. The firm has a 50-day simple moving average of $36.11 and a two-hundred day simple moving average of $31.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The business services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Interpublic Group of Companies had a net margin of 8.58% and a return on equity of 30.58%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. As a group, analysts forecast that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be issued a $0.31 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.29. Interpublic Group of Companies’s payout ratio is 52.10%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IPG. Wells Fargo & Company increased their target price on shares of Interpublic Group of Companies from $36.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, February 9th. Moffett Nathanson lowered shares of Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $36.00 to $37.00 in a report on Friday, February 10th. Bank of America raised shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $22.00 to $36.00 in a report on Thursday, January 5th. JPMorgan Chase & Co. upped their price objective on shares of Interpublic Group of Companies from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, January 23rd. Finally, Morgan Stanley upped their price objective on shares of Interpublic Group of Companies from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, February 6th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

Insider Activity at Interpublic Group of Companies

In related news, CAO Christopher F. Carroll sold 16,507 shares of Interpublic Group of Companies stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $35.54, for a total value of $586,658.78. Following the completion of the transaction, the chief accounting officer now owns 55,406 shares in the company, valued at $1,969,129.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Christopher F. Carroll sold 16,507 shares of Interpublic Group of Companies stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $35.54, for a total value of $586,658.78. Following the completion of the transaction, the chief accounting officer now owns 55,406 shares in the company, valued at $1,969,129.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Bonzani sold 38,885 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $35.61, for a total transaction of $1,384,694.85. Following the sale, the executive vice president now owns 111,769 shares of the company’s stock, valued at approximately $3,980,094.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,829 shares of company stock worth $3,053,693. Corporate insiders own 0.33% of the company’s stock.

About Interpublic Group of Companies

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Interpublic Group of Cos., Inc engages in the provision of advertising and marketing services. The firm specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates through the following segments: Integrated Agency Network (IAN), IPG DXTRA, and Corporate and Other.

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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