Brandywine Global Investment Management LLC decreased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 770,322 shares of the business services provider's stock after selling 22,583 shares during the period. Brandywine Global Investment Management LLC owned about 0.21% of Interpublic Group of Companies worth $21,584,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in Interpublic Group of Companies by 15.1% in the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider's stock valued at $943,993,000 after purchasing an additional 3,920,975 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Interpublic Group of Companies by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider's stock worth $362,538,000 after acquiring an additional 511,607 shares during the period. Geode Capital Management LLC raised its position in Interpublic Group of Companies by 0.9% in the third quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider's stock worth $298,107,000 after acquiring an additional 81,265 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Interpublic Group of Companies by 25,637.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider's stock valued at $207,439,000 after acquiring an additional 7,374,491 shares during the period. Finally, Amundi boosted its position in shares of Interpublic Group of Companies by 133.6% during the 4th quarter. Amundi now owns 5,402,201 shares of the business services provider's stock worth $150,393,000 after purchasing an additional 3,089,387 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Argus downgraded shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. StockNews.com started coverage on shares of Interpublic Group of Companies in a research report on Wednesday. They set a "hold" rating for the company. BNP Paribas upgraded Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target on the stock in a report on Friday, January 10th. Wells Fargo & Company raised Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. Finally, Barclays raised Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $32.00 to $36.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $33.50.
Read Our Latest Research Report on Interpublic Group of Companies
Insider Activity
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 value of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares in the company, valued at $3,845,263.86. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.42% of the company's stock.
Interpublic Group of Companies Price Performance
Interpublic Group of Companies stock traded down $0.88 during midday trading on Friday, reaching $23.70. 7,813,621 shares of the company were exchanged, compared to its average volume of 4,993,603. The firm's 50-day simple moving average is $27.13 and its 200-day simple moving average is $28.75. The Interpublic Group of Companies, Inc. has a 1 year low of $23.67 and a 1 year high of $33.05. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 12.95 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.
Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. On average, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.57%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is 72.13%.
Interpublic Group of Companies declared that its board has authorized a share buyback 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 buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
Interpublic Group of Companies Profile
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Free Report)
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.
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