Quent Capital LLC Increases Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Posted by Defense World Staff on Mar 30th, 2023

Quent Capital LLC lifted its position in The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 435.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,473 shares of the business services provider’s stock after purchasing an additional 1,198 shares during the period. Quent Capital LLC’s holdings in Interpublic Group of Companies were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IPG. Ten Capital Wealth Advisors LLC purchased a new stake in shares of Interpublic Group of Companies in the third quarter worth $31,000. Private Trust Co. NA purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth $36,000. Boyd Watterson Asset Management LLC OH purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $36,000. Ronald Blue Trust Inc. purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth $41,000. Finally, Glassy Mountain Advisors Inc. purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $58,000. 96.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of 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. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research report on Thursday, March 16th. They set a “hold” rating for the company. Bank of America upgraded shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $22.00 to $36.00 in a research report on Thursday, January 5th. Moffett Nathanson lowered shares of Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $36.00 to $37.00 in a research report on Friday, February 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of 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. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.13.

Insider Transactions at Interpublic Group of Companies

In other news, Director Dawn E. Hudson sold 5,950 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $33.15, for a total value of $197,242.50. Following the completion of the sale, the director now owns 26,930 shares in the company, valued at approximately $892,729.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Andrew Bonzani sold 38,885 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $35.61, for a total value of $1,384,694.85. Following the completion of the sale, the executive vice president now owns 111,769 shares in the company, valued at approximately $3,980,094.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawn E. Hudson sold 5,950 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $33.15, for a total transaction of $197,242.50. Following the completion of the transaction, the director now directly owns 26,930 shares in the company, valued at approximately $892,729.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,779 shares of company stock worth $3,250,936. 0.33% of the stock is currently owned by insiders.

Interpublic Group of Companies Price Performance

IPG stock opened at $35.32 on Thursday. The Interpublic Group of Companies, Inc. has a 52 week low of $25.14 and a 52 week high of $39.52. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $36.04 and a two-hundred day simple moving average of $32.75. The firm has a market capitalization of $13.60 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last released its quarterly earnings data 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. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.55 billion. Interpublic Group of Companies had a net margin of 8.58% and a return on equity of 30.58%. Interpublic Group of Companies’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 earnings per share. Analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.81 earnings per share for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Tuesday, February 28th. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.29. Interpublic Group of Companies’s dividend payout ratio (DPR) is 52.10%.

Interpublic Group of Companies Profile

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Interpublic Group of Cos., Inc engages in the provision of marketing, communications, and business transformation services. It operates through the following segments: Media, Data, and Engagement Solutions, Integrated Advertising and Creativity Led Solutions, and Specialized Communications and Experiential Solutions.