Corient Private Wealth LLC Sells 33,464 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Corient Private Wealth LLC lessened its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 18.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 148,045 shares of the business services provider's stock after selling 33,464 shares during the quarter. Corient Private Wealth LLC's holdings in Interpublic Group of Companies were worth $4,149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider's stock worth $943,993,000 after purchasing an additional 3,920,975 shares during the period. Assetmark Inc. grew its stake in shares of Interpublic Group of Companies by 3.0% in the 4th quarter. Assetmark Inc. now owns 42,496 shares of the business services provider's stock worth $1,191,000 after buying an additional 1,238 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Interpublic Group of Companies by 240.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider's stock worth $913,000 after buying an additional 20,395 shares during the last quarter. Jones Financial Companies Lllp increased its position in Interpublic Group of Companies by 69.5% during the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider's stock valued at $204,000 after buying an additional 2,991 shares in the last quarter. Finally, Bridgewater Associates LP raised its stake in Interpublic Group of Companies by 956.5% during the third quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider's stock valued at $3,313,000 after buying an additional 94,821 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

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Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 143,373 shares of the company's stock, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Interpublic Group of Companies Stock Performance

NYSE:IPG traded up $0.35 during trading hours on Tuesday, reaching $26.28. The company had a trading volume of 6,813,586 shares, compared to its average volume of 4,668,480. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 14.36 and a beta of 1.14. 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 firm's 50 day moving average price is $27.49 and its 200-day moving average price is $29.00. The Interpublic Group of Companies, Inc. has a 52 week low of $25.85 and a 52 week high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate 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 forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its board has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $155.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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 paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 72.13%.

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.