Mackay Shields LLC boosted its holdings in Interpublic Group of Companies Inc (NYSE:IPG) by 979.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 661,050 shares of the business services provider’s stock after buying an additional 599,838 shares during the period. Mackay Shields LLC owned approximately 0.17% of Interpublic Group of Companies worth $13,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prime Capital Investment Advisors LLC purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $29,000. CWM LLC raised its stake in shares of Interpublic Group of Companies by 85.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 865 shares during the period. Bremer Trust National Association purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $40,000. Westside Investment Management Inc. purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $41,000. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Shares of NYSE:IPG opened at $22.34 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $8.60 billion, a P/E ratio of 12.01, a P/E/G ratio of 4.51 and a beta of 1.07. Interpublic Group of Companies Inc has a 12-month low of $19.61 and a 12-month high of $25.77.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, February 13th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.34 billion. Interpublic Group of Companies had a net margin of 6.37% and a return on equity of 32.07%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Equities research analysts predict that Interpublic Group of Companies Inc will post 1.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Thursday, February 28th. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.21. Interpublic Group of Companies’s payout ratio is 50.54%.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Pivotal Research upgraded shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $22.00 to $25.00 in a research note on Monday, January 7th. Finally, Royal Bank of Canada lowered shares of Interpublic Group of Companies from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $28.00 to $24.00 in a research note on Thursday, January 17th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Interpublic Group of Companies presently has an average rating of “Hold” and an average price target of $25.44.

In related news, SVP Andrew Bonzani sold 28,181 shares of Interpublic Group of Companies stock in a transaction on Friday, March 1st. The shares were sold at an average price of $22.95, for a total value of $646,753.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Philippe Krakowsky sold 45,867 shares of Interpublic Group of Companies stock in a transaction on Friday, March 1st. The stock was sold at an average price of $22.95, for a total transaction of $1,052,647.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 346,386 shares of company stock valued at $7,946,717. Insiders own 1.32% of the company’s stock.

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Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

Further Reading: What is Depreciation?

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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