The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,045 shares of the business services provider's stock after selling 10,661 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Interpublic Group of Companies were worth $646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allworth Financial LP lifted its position in shares of Interpublic Group of Companies by 75.8% in 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 during the period. OFI Invest Asset Management bought a new position in Interpublic Group of Companies in the fourth quarter worth approximately $36,000. Brooklyn Investment Group purchased a new stake in Interpublic Group of Companies during the third quarter worth $60,000. Transamerica Financial Advisors Inc. boosted its position in Interpublic Group of Companies by 243,700.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider's stock valued at $78,000 after acquiring an additional 2,437 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at $107,000. Institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG traded up $0.35 on Tuesday, hitting $26.28. 6,813,586 shares of the company were exchanged, compared to its average volume of 4,670,182. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock's 50 day moving average price is $27.51 and its 200 day moving average price is $29.04. The Interpublic Group of Companies, Inc. has a 1-year low of $25.85 and a 1-year high of $33.05. The firm has a market capitalization of $9.79 billion, a P/E ratio of 14.36 and a beta of 1.14.

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Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. Sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio is presently 72.13%.

Interpublic Group of Companies announced that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $155.00 million in outstanding 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 usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

IPG has been the topic of a number of recent research reports. BNP Paribas raised Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price objective on the stock in a research report on Friday, January 10th. UBS Group raised shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and decreased their price target for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. StockNews.com began coverage on shares of Interpublic Group of Companies in a research report on Tuesday. They issued a "hold" rating on the stock. Wells Fargo & Company raised shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, Barclays raised shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $32.00 to $36.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $33.50.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction dated 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 transaction, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company's stock.

Interpublic Group of Companies Company 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.