Interpublic Group of Companies (NYSE:IPG) Stock Price Down 5.6% - What's Next?

The Interpublic Group of Companies, Inc. (NYSE:IPG - Get Free Report)'s stock price was down 5.6% on Wednesday . The company traded as low as $23.73 and last traded at $23.73. Approximately 4,063,405 shares changed hands during trading, a decline of 20% from the average daily volume of 5,081,102 shares. The stock had previously closed at $25.14.

Analysts Set New Price Targets

Several research firms have weighed in on IPG. 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 research report on Friday, January 24th. 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 note on Friday, January 10th. Argus downgraded Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. UBS Group upgraded shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $33.67.

Interpublic Group of Companies Trading Up 2.8 %

The company has a 50 day moving average of $26.11 and a 200-day moving average of $28.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 13.07 and a beta of 1.01.

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 earnings per share (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, research analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies's payout ratio is currently 72.13%.

Interpublic Group of Companies declared that its Board of Directors has authorized a share repurchase 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 usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the transaction, the chief financial officer now directly owns 143,373 shares in the company, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.42% of the company's stock.

Institutional Investors Weigh In On Interpublic Group of Companies

Several institutional investors have recently bought and sold shares of IPG. Canada Pension Plan Investment Board boosted its holdings in shares of Interpublic Group of Companies by 139.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider's stock worth $370,157,000 after buying an additional 7,693,636 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Interpublic Group of Companies by 25,637.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider's stock worth $207,439,000 after acquiring an additional 7,374,491 shares during the period. Amundi raised its stake in Interpublic Group of Companies by 133.6% during the fourth quarter. Amundi now owns 5,402,201 shares of the business services provider's stock worth $150,393,000 after acquiring an additional 3,089,387 shares in the last quarter. Magnetar Financial LLC boosted its holdings in shares of Interpublic Group of Companies by 12,548.6% in the 4th quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider's stock worth $67,955,000 after acquiring an additional 2,406,073 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth about $51,794,000. Institutional investors and hedge funds 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.