Interpublic Group of Companies (NYSE:IPG) Sets New 1-Year 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 during trading on Wednesday . The company traded as low as $25.81 and last traded at $25.91, with a volume of 400293 shares. The stock had previously closed at $26.12.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IPG shares. Wells Fargo & Company upgraded Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Barclays upgraded Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $32.00 to $36.00 in a report on Friday, January 24th. StockNews.com began coverage on shares of Interpublic Group of Companies in a research report on Wednesday, April 2nd. They issued a "hold" rating on the stock. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and increased their price target for the company from $32.00 to $39.00 in a research note on Monday, January 27th. Finally, BNP Paribas raised Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 target price on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $33.50.

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Interpublic Group of Companies Stock Performance

The firm's 50-day moving average is $27.13 and its two-hundred day moving average is $28.71. 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 has a market cap of $8.68 billion, a price-to-earnings ratio of 12.72 and a beta of 1.01.

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 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%. As a group, sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.67%. 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 of Directors has approved 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Interpublic Group of Companies

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

Institutional Trading of Interpublic Group of Companies

Several hedge funds have recently made changes to their positions in IPG. West Oak Capital LLC increased its stake in Interpublic Group of Companies by 0.8% during the fourth quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider's stock worth $1,558,000 after acquiring an additional 435 shares during the last quarter. Prosperity Consulting Group LLC lifted its position in Interpublic Group of Companies by 2.3% in the fourth quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock valued at $595,000 after buying an additional 470 shares during the last quarter. Allworth Financial LP increased its position in shares of Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after acquiring an additional 480 shares during the last quarter. GeoWealth Management LLC raised its stake in shares of Interpublic Group of Companies by 20.7% in the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock valued at $94,000 after acquiring an additional 573 shares during the period. Finally, Xponance Inc. boosted its position in shares of Interpublic Group of Companies by 1.0% during the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider's stock worth $1,677,000 after purchasing an additional 587 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.