Everence Capital Management Inc. Grows Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Everence Capital Management Inc. increased its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 52.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,620 shares of the business services provider’s stock after acquiring an additional 12,630 shares during the period. Everence Capital Management Inc.’s holdings in Interpublic Group of Companies were worth $1,195,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Interpublic Group of Companies by 85.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 229,511 shares of the business services provider’s stock valued at $7,491,000 after purchasing an additional 105,858 shares in the last quarter. Vest Financial LLC raised its holdings in shares of Interpublic Group of Companies by 30.9% in the 4th quarter. Vest Financial LLC now owns 392,769 shares of the business services provider’s stock valued at $12,820,000 after purchasing an additional 92,692 shares in the last quarter. New York Life Investment Management LLC raised its holdings in shares of Interpublic Group of Companies by 32.5% in the 3rd quarter. New York Life Investment Management LLC now owns 99,678 shares of the business services provider’s stock valued at $2,857,000 after purchasing an additional 24,459 shares in the last quarter. UBS Group AG raised its stake in shares of Interpublic Group of Companies by 16.2% during the 3rd quarter. UBS Group AG now owns 338,048 shares of the business services provider’s stock worth $9,688,000 after acquiring an additional 47,184 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Interpublic Group of Companies by 212.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 827,224 shares of the business services provider’s stock worth $23,708,000 after acquiring an additional 562,823 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Insider Activity

In other news, CEO Philippe Krakowsky sold 150,403 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $4,842,976.60. Following the sale, the chief executive officer now directly owns 415,776 shares of the company’s stock, valued at approximately $13,387,987.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Christopher F. Carroll sold 18,382 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares of the company’s stock, valued at $1,364,958. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Philippe Krakowsky sold 150,403 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 $4,842,976.60. Following the sale, the chief executive officer now directly owns 415,776 shares in the company, valued at $13,387,987.20. The disclosure for this sale can be found here. Insiders have sold 249,646 shares of company stock valued at $8,038,601 in the last ninety days. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Interpublic Group of Companies from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Barclays boosted their price objective on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. UBS Group initiated coverage on shares of Interpublic Group of Companies in a research note on Thursday, January 11th. They set a “neutral” rating and a $36.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.25.

Interpublic Group of Companies Stock Down 0.2 %

NYSE:IPG opened at $30.35 on Wednesday. The company has a market cap of $11.45 billion, a PE ratio of 10.65, a P/E/G ratio of 2.09 and a beta of 1.13. The Interpublic Group of Companies, Inc. has a twelve month low of $27.20 and a twelve month high of $40.95. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $32.05 and its two-hundred day moving average is $31.28.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.16 by $0.02. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. Interpublic Group of Companies had a net margin of 10.09% and a return on equity of 30.52%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. Analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.33 dividend. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Thursday, February 29th. Interpublic Group of Companies’s dividend payout ratio is 46.32%.

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.