JPMorgan Chase & Co. Cuts Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

JPMorgan Chase & Co. lowered its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,002,915 shares of the business services provider's stock after selling 703,152 shares during the period. JPMorgan Chase & Co. owned approximately 0.54% of Interpublic Group of Companies worth $56,122,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Korea Investment CORP grew its position in shares of Interpublic Group of Companies by 7.7% during the 4th quarter. Korea Investment CORP now owns 139,760 shares of the business services provider's stock worth $3,916,000 after purchasing an additional 10,000 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in shares of Interpublic Group of Companies by 14.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 8,412 shares of the business services provider's stock worth $236,000 after purchasing an additional 1,042 shares in the last quarter. LPL Financial LLC grew its position in shares of Interpublic Group of Companies by 0.9% during the 4th quarter. LPL Financial LLC now owns 465,454 shares of the business services provider's stock worth $13,042,000 after purchasing an additional 4,177 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Interpublic Group of Companies during the 4th quarter worth approximately $6,044,000. Finally, Virtu Financial LLC lifted its holdings in shares of Interpublic Group of Companies by 1,870.4% during the 4th quarter. Virtu Financial LLC now owns 128,605 shares of the business services provider's stock worth $3,604,000 after acquiring an additional 122,078 shares during the period. Institutional investors and hedge funds own 98.43% of the company's stock.

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Interpublic Group of Companies Price Performance

Shares of NYSE:IPG traded down $0.65 during midday trading on Thursday, reaching $24.32. 499,821 shares of the company were exchanged, compared to its average volume of 6,854,692. 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 business's fifty day moving average is $26.62 and its two-hundred day moving average is $28.49. The Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The stock has a market cap of $9.06 billion, a PE ratio of 13.29 and a beta of 1.01.

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 the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio is presently 72.13%.

Interpublic Group of Companies declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $155.00 million in shares. This buyback authorization permits the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IPG shares. Barclays raised shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Argus cut shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. BNP Paribas upgraded shares of Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target for the company in a report on Friday, January 10th. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research note on Thursday. They issued a "hold" rating on the stock. Finally, JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and raised their price target for the company from $32.00 to $39.00 in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $33.50.

Insider Activity

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 143,373 shares of the company's stock, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.42% 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.