The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. increased its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,778 shares of the business services provider’s stock after acquiring an additional 1,404 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Interpublic Group of Companies were worth $1,037,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new position in Interpublic Group of Companies during the fourth quarter worth about $25,000. Clear Street Markets LLC grew its holdings in Interpublic Group of Companies by 94.9% during the first quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock worth $28,000 after acquiring an additional 372 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in Interpublic Group of Companies during the fourth quarter worth about $29,000. Resurgent Financial Advisors LLC acquired a new position in Interpublic Group of Companies during the fourth quarter worth about $34,000. Finally, First Manhattan CO. LLC. increased its stake in Interpublic Group of Companies by 1,176.5% in the 1st quarter. First Manhattan CO. LLC. now owns 1,085 shares of the business services provider’s stock worth $40,000 after purchasing an additional 1,000 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. UBS Group started coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They set a “neutral” rating and a $36.00 target price on the stock. Wells Fargo & Company lifted their target price on Interpublic Group of Companies from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Finally, Barclays boosted their price target on Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies presently has an average rating of “Hold” and a consensus price target of $35.25.

Insiders Place Their Bets

In other news, EVP Andrew Bonzani sold 40,468 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the sale, the executive vice president now owns 70,431 shares in the company, valued at $2,267,878.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Andrew Bonzani sold 40,468 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the sale, the executive vice president now owns 70,431 shares in the company, valued at $2,267,878.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ellen Tobi Johnson sold 40,393 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $1,300,654.60. Following the sale, the chief financial officer now owns 88,350 shares in the company, valued at approximately $2,844,870. The disclosure for this sale can be found here. Insiders sold 249,646 shares of company stock worth $8,038,601 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Interpublic Group of Companies Stock Down 0.1 %

Shares of Interpublic Group of Companies stock opened at $30.42 on Tuesday. The stock has a market capitalization of $11.52 billion, a P/E ratio of 10.67, a PEG ratio of 2.09 and a beta of 1.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average price of $32.10 and a two-hundred day moving average price of $31.27. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Thursday, February 8th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. Interpublic Group of Companies had a return on equity of 30.52% and a net margin of 10.09%. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. Equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.33 per share. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 4.34%. The ex-dividend date was Thursday, February 29th. Interpublic Group of Companies’s dividend payout ratio is currently 46.32%.

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.