Mitsubishi UFJ Trust & Banking Corp Sells 39,388 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Mitsubishi UFJ Trust & Banking Corp lowered its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 15.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 223,094 shares of the business services provider's stock after selling 39,388 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Interpublic Group of Companies worth $6,251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IPG. Townsquare Capital LLC purchased a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $215,000. Bridgewater Associates LP grew its position 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Interpublic Group of Companies by 10.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,402,349 shares of the business services provider's stock worth $139,246,000 after acquiring an additional 417,741 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Interpublic Group of Companies by 11.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 16,071 shares of the business services provider's stock worth $508,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Interpublic Group of Companies by 311.7% during the 3rd quarter. Verition Fund Management LLC now owns 137,915 shares of the business services provider's stock valued at $4,362,000 after acquiring an additional 104,420 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

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Insider Transactions 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 shares were sold at an average price of $26.82, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.42% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company raised Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. Barclays raised Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. StockNews.com began coverage on Interpublic Group of Companies in a research note on Wednesday. They set a "hold" rating for the company. Argus lowered shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $32.00 to $39.00 in a report on Monday, January 27th. One 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $33.50.

Interpublic Group of Companies Price Performance

NYSE IPG traded down $0.88 during trading hours on Friday, reaching $23.70. The company's stock had a trading volume of 7,813,621 shares, compared to its average volume of 4,993,603. The Interpublic Group of Companies, Inc. has a 1 year low of $23.70 and a 1 year high of $33.05. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 12.95 and a beta of 1.14. The firm's 50-day moving average price is $27.13 and its 200-day moving average price is $28.75.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its 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%. On average, equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies declared that its board has approved a stock buyback plan on Wednesday, February 12th that allows the company to buyback $155.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.33 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.57%. Interpublic Group of Companies's payout ratio is 72.13%.

About Interpublic Group of Companies

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.