Interpublic Group of Companies (NYSE:IPG) Reaches New 12-Month Low - Here's What Happened

The Interpublic Group of Companies, Inc. (NYSE:IPG - Get Free Report)'s share price hit a new 52-week low on Thursday . The company traded as low as $25.97 and last traded at $26.12, with a volume of 2789532 shares changing hands. The stock had previously closed at $26.35.

Wall Street Analysts Forecast Growth

IPG has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Monday. They set a "hold" rating for the company. Wells Fargo & Company upgraded Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Argus lowered Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Finally, BNP Paribas upgraded Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target for the company in a research report on Friday, January 10th. One equities research 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $33.50.

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Interpublic Group of Companies Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The business's 50 day moving average price is $27.63 and its 200-day moving average price is $29.28. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 14.42 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings data 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%. Equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio is currently 72.13%.

Interpublic Group of Companies announced that its board has approved a share 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the sale, the chief financial officer now owns 143,373 shares of the company's stock, valued at $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is owned by insiders.

Institutional Trading of Interpublic Group of Companies

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP lifted its holdings in shares of Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after purchasing an additional 480 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $36,000. Raiffeisen Bank International AG purchased a new position in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $42,000. Brooklyn Investment Group purchased a new position in shares of Interpublic Group of Companies during the third quarter valued at approximately $60,000. Finally, Transamerica Financial Advisors Inc. lifted its stake in shares of Interpublic Group of Companies by 243,700.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider's stock valued at $78,000 after buying an additional 2,437 shares during the period. Hedge funds and other institutional investors own 98.43% 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.