The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Purchased by Vanguard Group Inc.

Posted by Defense World Staff on Mar 13th, 2023

Vanguard Group Inc. increased its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,222,062 shares of the business services provider’s stock after acquiring an additional 302,083 shares during the period. Vanguard Group Inc. owned about 12.67% of Interpublic Group of Companies worth $1,260,085,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IPG. First Trust Advisors LP grew its holdings in Interpublic Group of Companies by 1,196.9% during the first quarter. First Trust Advisors LP now owns 6,280,702 shares of the business services provider’s stock worth $222,651,000 after acquiring an additional 5,796,432 shares during the period. Bank of New York Mellon Corp grew its holdings in Interpublic Group of Companies by 26.9% during the third quarter. Bank of New York Mellon Corp now owns 13,082,339 shares of the business services provider’s stock worth $334,910,000 after acquiring an additional 2,774,011 shares during the period. Beutel Goodman & Co Ltd. grew its holdings in Interpublic Group of Companies by 18.6% during the third quarter. Beutel Goodman & Co Ltd. now owns 6,864,901 shares of the business services provider’s stock worth $175,741,000 after acquiring an additional 1,075,237 shares during the period. Amundi grew its holdings in Interpublic Group of Companies by 11.8% during the second quarter. Amundi now owns 7,694,955 shares of the business services provider’s stock worth $211,785,000 after acquiring an additional 814,600 shares during the period. Finally, National Pension Service grew its holdings in Interpublic Group of Companies by 377.5% during the first quarter. National Pension Service now owns 909,357 shares of the business services provider’s stock worth $32,237,000 after acquiring an additional 718,905 shares during the period. 96.75% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $33.77 on Monday. The company has a market cap of $13.01 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 2.61 and a beta of 1.11. The stock’s 50 day simple moving average is $36.24 and its 200-day simple moving average is $32.18. The Interpublic Group of Companies, Inc. has a 1-year low of $25.14 and a 1-year high of $39.52. 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 posted its quarterly earnings results on Thursday, February 9th. The business services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. Interpublic Group of Companies had a return on equity of 30.58% and a net margin of 8.58%. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The business also recently declared 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. This represents a $1.24 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, February 28th. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.29. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 52.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IPG. JPMorgan Chase & Co. increased their price target on Interpublic Group of Companies from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, January 23rd. Citigroup increased their price target on Interpublic Group of Companies from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Morgan Stanley increased their price target on Interpublic Group of Companies from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, February 6th. Moffett Nathanson downgraded Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $36.00 to $37.00 in a research report on Friday, February 10th. Finally, Wells Fargo & Company increased their price target on Interpublic Group of Companies from $36.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, February 9th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.25.

Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 30,437 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $35.56, for a total value of $1,082,339.72. Following the completion of the sale, the chief financial officer now owns 133,533 shares of the company’s stock, valued at $4,748,433.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 30,437 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $35.56, for a total transaction of $1,082,339.72. Following the completion of the sale, the chief financial officer now owns 133,533 shares of the company’s stock, valued at $4,748,433.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christopher F. Carroll sold 16,507 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $35.54, for a total value of $586,658.78. Following the sale, the chief accounting officer now directly owns 55,406 shares of the company’s stock, valued at approximately $1,969,129.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,829 shares of company stock valued at $3,053,693. 0.33% of the stock is currently owned by insiders.

Interpublic Group of Companies Company Profile

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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.