The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Acquired by abrdn plc

abrdn plc increased its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 23.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 488,980 shares of the business services provider’s stock after purchasing an additional 91,894 shares during the period. abrdn plc owned 0.13% of Interpublic Group of Companies worth $15,960,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Interpublic Group of Companies by 85.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 229,511 shares of the business services provider’s stock worth $7,491,000 after acquiring an additional 105,858 shares during the last quarter. Vest Financial LLC lifted its holdings in Interpublic Group of Companies by 30.9% in the 4th quarter. Vest Financial LLC now owns 392,769 shares of the business services provider’s stock valued at $12,820,000 after purchasing an additional 92,692 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in Interpublic Group of Companies by 32.5% in the 3rd quarter. New York Life Investment Management LLC now owns 99,678 shares of the business services provider’s stock valued at $2,857,000 after purchasing an additional 24,459 shares in the last quarter. UBS Group AG boosted its stake in shares of Interpublic Group of Companies by 16.2% during the 3rd quarter. UBS Group AG now owns 338,048 shares of the business services provider’s stock worth $9,688,000 after purchasing an additional 47,184 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Interpublic Group of Companies by 212.9% during the third quarter. Qube Research & Technologies Ltd now owns 827,224 shares of the business services provider’s stock worth $23,708,000 after buying an additional 562,823 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

IPG stock opened at $31.40 on Thursday. The stock has a 50-day moving average price of $31.94 and a two-hundred day moving average price of $31.35. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $40.95. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.73. The company has a market cap of $11.85 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Interpublic Group of Companies had a return on equity of 30.52% and a net margin of 10.09%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.77 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.33 dividend. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, February 29th. This represents a $1.32 annualized dividend and a dividend yield of 4.20%. Interpublic Group of Companies’s dividend payout ratio is presently 46.32%.

Insider Transactions at Interpublic Group of Companies

In other news, CAO Christopher F. Carroll sold 18,382 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $591,900.40. Following the completion of the sale, the chief accounting officer now owns 42,390 shares of the company’s stock, valued at $1,364,958. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $1,300,654.60. Following the transaction, the chief financial officer now owns 88,350 shares in the company, valued at $2,844,870. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christopher F. Carroll sold 18,382 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $591,900.40. Following the completion of the transaction, the chief accounting officer now owns 42,390 shares in the company, valued at approximately $1,364,958. The disclosure for this sale can be found here. Insiders sold 249,646 shares of company stock valued at $8,038,601 over the last quarter. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IPG shares. Barclays raised their target price on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. UBS Group initiated coverage on Interpublic Group of Companies in a report on Thursday, January 11th. They set a “neutral” rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Finally, Wells Fargo & Company lifted their price objective on Interpublic Group of Companies from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.25.

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.