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 $661.7 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 Thursday at a closing price of $32.92, with 3.18 million shares of worth about $104.6 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.34% during that period and on Thursday, January 25 the price saw a gain of about 2.14%. 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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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 SPDR Series – Communication Servi are the top 3 mutual funds which are holding stakes in Interpublic Group Of Cos., Inc. Vanguard Total Stock Market ETF is currently holding 12.04 million shares of worth totaling $393.09 million. The company recently came selling 23293.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund sold 29666.0 shares, after which its hold over company’s outstanding shares shrunk to 2.44%, leaving 9.35 million shares with the mutual fund that have a worth of about $305.27 million. SPDR Series – Communication Servi, after selling 8.29 million shares, have now control over 2.17% of the stake in the company. It holds 71136.0 shares of worth $270.61 million.
However, the stock later moved at a day high price of 32.93, or with a gain of 2.14%. Stock saw a price change of 3.62% in past 5 days and over the past one month there was a price change of 0.18%. Year-to-date (YTD), IPG shares are showing a performance of 0.86% which decreased to -9.76% 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 3.35 million. The stock is currently trading 1.58% above its 20-day simple moving average (SMA20), while that difference is up 4.13% for SMA50 and it goes to -1.81% lower than SMA200.
Managed Account Advisors LLC acquired 20.27 million shares of Interpublic Group Of Cos., Inc. having value of about $661.7 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 $85644474.48, 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 102.22% of that. Holding of mutual funds in the company is about 47.13% while other institutional holders and individual stake holders have control over 55.62% and 1.39% of the stake respectively.
The stock has a current market capitalization of $12.61B and its 3Y-monthly beta is at 1.14. PE ratio of stock for trailing 12 months is 13.72, while it has posted earnings per share of $2.40 in the same period. Its PEG reads 2.86 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 1.79% while standing at 1.81% over the month.
Analysts are in expectations that Interpublic Group Of Cos., Inc. (IPG) stock would likely to be making an EPS of $1.13 in the current quarter, while forecast for next quarter EPS is $0.37 and it is $2.91 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.01 which is $1.18 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 $1.02 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 3.90% while it is estimated to increase by 2.51% 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.
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 UBS on January 11, 2024 offering a Neutral rating for the stock and assigned a target price of $36 to it.
