Managed Account Advisors LLC has recently announced that it has increased stake in Interpublic Group Of Cos., Inc. (NYSE:IPG) by 14.72%. After grabbing 20.27 million shares, the institutional investor is now in possession of 2.6 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 5.29% having worth around $623.18 million. Moreover, Harris Associates LP increased its share by 3.28 million to have a control over 16.66 million shares. And Black Creek Investment Management raised its holdings to 1.2 million shares by acquiring 9.72 million shares or 2.54% of the stake.
Interpublic Group Of Cos., Inc. (IPG) concluded trading on 01/04/24 at a closing price of $32.19, with 4.02 million shares of worth about $129.31 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -15.40% during that period and on Thursday the price saw a gain of about 0.22%. Currently the company’s common shares owned by public are about 386.50M shares, out of which, 381.60M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the IPG stock and their offered price forecasts bring an average price target of $34.64. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $40.00 and could fall to a lowest price of $30.00. The stock’s current price level is 7.07% above of average price target set by the analysts, while a rise to estimated low would result in loss of -7.3% for the stock. However, touching the estimated high of $40.00 would mean a gain of 19.53% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 27 times over the past 12 months. They bought 433,433 shares in 17 of the transactions. In 10 selling transactions, insiders dumped 344,612 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Funds Income Fund of Ame are the top 3 mutual funds which are holding stakes in Interpublic Group Of Cos., Inc. Vanguard Total Stock Market ETF is currently holding 12.07 million shares of worth totaling $370.92 million. The company recently came buying 14449.0 shares which brought its stake up to 3.15% of the company’s outstanding shares. Vanguard 500 Index Fund bought 40786.0 shares, after which its hold over company’s outstanding shares expand to 2.43%, leaving 9.29 million shares with the mutual fund that have a worth of about $285.66 million. American Funds Income Fund of Ame, after buying 7.88 million shares, have now control over 2.06% of the stake in the company. It holds 0.0 shares of worth $242.34 million.
Interpublic Group Of Cos., Inc. (NYSE: IPG) started trading at $32.27, above $0.15 from concluding price of the previous day. However, the stock later moved at a day high price of 32.56, or with a gain of 0.22%. Stock saw a price change of -2.31% in past 5 days and over the past one month there was a price change of 2.19%. Year-to-date (YTD), IPG shares are showing a performance of -1.38% which decreased to -4.74% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $27.20 but also hit the highest price of $40.95 during that period. The average intraday trading volume for Interpublic Group Of Cos., Inc. shares is 3.73 million. The stock is currently trading -0.17% below its 20-day simple moving average (SMA20), while that difference is up 5.31% for SMA50 and it goes to -4.73% lower than SMA200.
Managed Account Advisors LLC acquired 20.27 million shares of Interpublic Group Of Cos., Inc. having value of about $623.18 million. Data submitted at the U.S SEC by Managed Account Advisors LLC revealed that the firm now holds 2.6 million shares in the company valued at close to $83745310.86, or have control over 14.72% stake in the company. Interpublic Group Of Cos., Inc. (NYSE: IPG) currently have 386.50M outstanding shares and institutions hold larger chunk of about 102.34% of that. Holding of mutual funds in the company is about 46.12% while other institutional holders and individual stake holders have control over 56.67% and 1.39% of the stake respectively.
The stock has a current market capitalization of $12.33B and its 3Y-monthly beta is at 1.15. PE ratio of stock for trailing 12 months is 13.41, while it has posted earnings per share of $2.40 in the same period. Its PEG reads 2.79 and has Quick Ratio of 1.04 while making debt-to-equity ratio of 1.28. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IPG, volatility over the week remained 1.97% while standing at 1.99% over the month.
Analysts are in expectations that Interpublic Group Of Cos., Inc. (IPG) stock would likely to be making an EPS of $Procter & Gamble Company (The) in the current quarter, while forecast for next quarter EPS is $148.65 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Dorian LPG Ltd. which is $Simon Property Group, Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Iamgold Corporation in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 3.98% while it is estimated to increase by 2.88% in next year. EPS is likely to shrink at an annualized rate of 4.80% for next 5-years, compared to annual growth of 11.21% made by the stock over the past 5-years.
Analysts at 14 brokerage firms have issued recommendations for the Interpublic Group Of Cos., Inc. (IPG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.07. Out of those 14 Wall Street analysts, 6 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on July 24, 2023 offering an Equal weight rating for the stock and assigned a target price range of between $43 and $33 to it.
