17,619 Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG) Acquired by Brighton Jones LLC

Brighton Jones LLC purchased a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,619 shares of the business services provider’s stock, valued at approximately $575,000.

Several other hedge funds have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Interpublic Group of Companies by 85.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 229,511 shares of the business services provider’s stock valued at $7,491,000 after purchasing an additional 105,858 shares during the period. Vest Financial LLC grew its position in shares of Interpublic Group of Companies by 30.9% during the fourth quarter. Vest Financial LLC now owns 392,769 shares of the business services provider’s stock worth $12,820,000 after buying an additional 92,692 shares in the last quarter. abrdn plc grew its position in shares of Interpublic Group of Companies by 23.1% during the fourth quarter. abrdn plc now owns 488,980 shares of the business services provider’s stock worth $15,960,000 after buying an additional 91,894 shares in the last quarter. New York Life Investment Management LLC grew its position in shares of Interpublic Group of Companies by 32.5% during the third quarter. New York Life Investment Management LLC now owns 99,678 shares of the business services provider’s stock worth $2,857,000 after buying an additional 24,459 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Interpublic Group of Companies by 16.2% during the third quarter. UBS Group AG now owns 338,048 shares of the business services provider’s stock worth $9,688,000 after buying an additional 47,184 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $30.53 on Friday. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $40.95. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a fifty day moving average of $31.75 and a 200-day moving average of $31.41.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The company 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 company posted $0.38 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.33 per share. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, February 29th. Interpublic Group of Companies’s payout ratio is currently 46.98%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IPG shares. Wells Fargo & Company decreased their price target on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. UBS Group began coverage on shares of Interpublic Group of Companies in a report on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price objective for the company. Barclays lifted their price objective on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.13.

Insider Activity at Interpublic Group of Companies

In related news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares in the company, valued at $1,364,958. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 18,382 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares in the company, valued at $1,364,958. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Philippe Krakowsky sold 150,403 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 transaction of $4,842,976.60. Following the completion of the sale, the chief executive officer now owns 415,776 shares in the company, valued at $13,387,987.20. The disclosure for this sale can be found here. Insiders have sold a total of 249,646 shares of company stock worth $8,038,601 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

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.