Neo Ivy Capital Management Acquires Shares of 68,634 The Interpublic Group of Companies, Inc. (NYSE:IPG)

Neo Ivy Capital Management purchased a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 68,634 shares of the business services provider’s stock, valued at approximately $1,923,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IPG. Assetmark Inc. increased its stake in shares of Interpublic Group of Companies by 3.0% in the 4th quarter. Assetmark Inc. now owns 42,496 shares of the business services provider’s stock worth $1,191,000 after acquiring an additional 1,238 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Interpublic Group of Companies by 69.5% during the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider’s stock worth $204,000 after buying an additional 2,991 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter worth approximately $2,325,000. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Interpublic Group of Companies by 4.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,030,630 shares of the business services provider’s stock worth $28,878,000 after buying an additional 45,894 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after acquiring an additional 480 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $24.04 on Friday. The business’s 50 day simple moving average is $25.04 and its 200-day simple moving average is $27.21. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 13.14 and a beta of 1.09. The Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.49%. Interpublic Group of Companies’s payout ratio is currently 100.76%.

Interpublic Group of Companies announced that its board has initiated a stock repurchase program on Wednesday, February 12th that allows the company to buyback $155.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on IPG. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. Barclays dropped their target price on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Wall Street Zen began coverage on shares of Interpublic Group of Companies in a research note on Tuesday. They set a “hold” rating on the stock. Finally, Citigroup reiterated a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.44.

Insider Transactions at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. This trade represents a 13.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.42% of the company’s stock.

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.