AMF Tjanstepension AB Has $4.17 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

AMF Tjanstepension AB lessened its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 41.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 148,658 shares of the business services provider’s stock after selling 104,514 shares during the period. AMF Tjanstepension AB’s holdings in Interpublic Group of Companies were worth $4,165,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IPG. Allworth Financial LP lifted its position in shares of 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 purchasing an additional 480 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Interpublic Group of Companies during the 3rd quarter worth about $32,000. Brooklyn Investment Group acquired a new position in shares of Interpublic Group of Companies during the 3rd quarter worth about $60,000. Transamerica Financial Advisors Inc. lifted its position in shares of Interpublic Group of Companies by 243,700.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock worth $78,000 after purchasing an additional 2,437 shares during the last quarter. Finally, AM Squared Ltd lifted its position in shares of Interpublic Group of Companies by 63.2% during the 3rd quarter. AM Squared Ltd now owns 3,100 shares of the business services provider’s stock worth $98,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Ratings Changes

IPG has been the subject of several research analyst reports. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. UBS Group upgraded 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, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Stock Performance

IPG stock opened at $28.20 on Friday. The business’s fifty day moving average is $27.74 and its 200-day moving average is $29.48. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market cap of $10.51 billion, a P/E ratio of 15.41 and a beta of 1.14. The Interpublic Group of Companies, Inc. has a twelve month low of $26.15 and a twelve month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. Equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s payout ratio is presently 72.13%.

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

Insiders Place Their Bets

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the 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 completion of the transaction, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.