Baird Financial Group Inc. Purchases 8,434 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Baird Financial Group Inc. lifted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,564 shares of the business services provider’s stock after purchasing an additional 8,434 shares during the quarter. Baird Financial Group Inc.’s holdings in Interpublic Group of Companies were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP boosted its position in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after buying an additional 480 shares during the period. OFI Invest Asset Management acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $36,000. GeoWealth Management LLC boosted its position in Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after buying an additional 573 shares during the period. Parvin Asset Management LLC acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $102,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $141,000. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Stock Down 0.5%

IPG stock opened at $25.11 on Monday. The Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $25.39 and its 200 day moving average is $27.47. The stock has a market cap of $9.28 billion, a price-to-earnings ratio of 13.72 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. Sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies declared that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that authorizes the company to buyback $155.00 million in shares. This buyback authorization authorizes the business services provider to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.33 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.26%. Interpublic Group of Companies’s dividend payout ratio is presently 100.76%.

Insider Activity

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

IPG has been the topic of a number of recent analyst reports. Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Citigroup restated a “buy” rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. StockNews.com started coverage on shares of Interpublic Group of Companies in a research note on Monday. They issued a “hold” rating for the company. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Finally, Barclays lowered their price objective on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Interpublic Group of Companies presently has an average rating of “Hold” and an average price target of $33.44.

Interpublic Group of Companies Company Profile

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.