Redwood Investment Management LLC Raises Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Redwood Investment Management LLC raised its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,467 shares of the business services provider’s stock after buying an additional 2,362 shares during the period. Redwood Investment Management LLC’s holdings in Interpublic Group of Companies were worth $1,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IPG. Allworth Financial LP grew its stake 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 purchasing an additional 480 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at about $36,000. GeoWealth Management LLC boosted its holdings in shares of Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 573 shares during the period. Parvin Asset Management LLC purchased a new position in Interpublic Group of Companies during the 4th quarter worth $102,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of Interpublic Group of Companies during the fourth quarter worth about $141,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. StockNews.com began coverage on shares of Interpublic Group of Companies in a research note on Monday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $39.00 in a report on Monday, January 27th. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Barclays decreased their price objective on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $33.44.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 143,373 shares in the company, valued at $3,845,263.86. This trade represents a 13.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock opened at $25.20 on Friday. The Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The stock’s 50-day moving average is $25.20 and its 200-day moving average is $27.38. 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 company has a market cap of $9.32 billion, a price-to-earnings ratio of 13.77 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 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The firm’s revenue was down 6.9% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. Equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies declared that its Board of Directors has authorized a stock 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 purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Interpublic Group of Companies 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.