HRT Financial LP Acquires New Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Posted by Mark Dietrich on May 26th, 2023

HRT Financial LP bought a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 93,488 shares of the business services provider’s stock, valued at approximately $3,114,000.

Other institutional investors have also recently bought and sold shares of the company. Sargent Bickham Lagudis LLC bought a new stake in Interpublic Group of Companies in the 4th quarter valued at approximately $30,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its stake in Interpublic Group of Companies by 1,550.0% in the 4th quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 990 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 930 shares in the last quarter. Boyd Watterson Asset Management LLC OH bought a new stake in Interpublic Group of Companies in the 4th quarter valued at approximately $36,000. Spire Wealth Management lifted its stake in Interpublic Group of Companies by 29.7% in the 4th quarter. Spire Wealth Management now owns 1,153 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 264 shares in the last quarter. Finally, Ten Capital Wealth Advisors LLC bought a new stake in Interpublic Group of Companies in the 3rd quarter valued at approximately $31,000. Institutional investors own 96.75% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the topic of a number of analyst reports. Citigroup upped their price objective on Interpublic Group of Companies from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, February 14th. Wells Fargo & Company upped their price objective on Interpublic Group of Companies from $36.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 9th. Moffett Nathanson cut Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $36.00 to $37.00 in a research note on Friday, February 10th. BNP Paribas cut Interpublic Group of Companies from an “outperform” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research note on Wednesday, March 29th. Finally, Morgan Stanley upped their price objective on Interpublic Group of Companies from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, February 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and an average target price of $40.50.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 16,507 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $35.54, for a total value of $586,658.78. Following the transaction, the chief accounting officer now directly owns 55,406 shares of the company’s stock, valued at approximately $1,969,129.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Christopher F. Carroll sold 16,507 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $35.54, for a total transaction of $586,658.78. Following the sale, the chief accounting officer now directly owns 55,406 shares of the company’s stock, valued at approximately $1,969,129.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew Bonzani sold 38,885 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $35.61, for a total value of $1,384,694.85. Following the sale, the executive vice president now directly owns 111,769 shares in the company, valued at $3,980,094.09. The disclosure for this sale can be found here. Insiders have sold a total of 91,779 shares of company stock valued at $3,250,936 in the last ninety days. 0.35% of the stock is currently owned by corporate insiders.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG opened at $37.49 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s fifty day moving average price is $36.56 and its two-hundred day moving average price is $35.35. The Interpublic Group of Companies, Inc. has a one year low of $25.14 and a one year high of $39.52. The firm has a market cap of $14.47 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 1.58 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The business services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. Interpublic Group of Companies had a return on equity of 29.28% and a net margin of 8.31%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the firm posted $0.47 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.95 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.31%. Interpublic Group of Companies’s dividend payout ratio is 53.68%.

Interpublic Group of Companies Profile

(Get Rating)

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.