Rhumbline Advisers Sells 51,902 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Rhumbline Advisers reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 6.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 702,472 shares of the business services provider's stock after selling 51,902 shares during the period. Rhumbline Advisers owned 0.19% of Interpublic Group of Companies worth $19,683,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider's stock valued at $943,993,000 after purchasing an additional 3,920,975 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Interpublic Group of Companies by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider's stock valued at $393,064,000 after acquiring an additional 270,857 shares during the period. Geode Capital Management LLC lifted its position in shares of Interpublic Group of Companies by 0.9% during the third quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider's stock worth $298,107,000 after acquiring an additional 81,265 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Interpublic Group of Companies by 25,637.0% in the fourth 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 valued at $139,246,000 after purchasing an additional 417,741 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IPG has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. UBS Group raised Interpublic Group of Companies from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. StockNews.com started coverage on Interpublic Group of Companies in a research report on Friday. They issued a "hold" rating for the company. BNP Paribas raised shares of Interpublic Group of Companies from an "underperform" rating to an "outperform" rating and set a $38.00 price target on the stock in a research note on Friday, January 10th. Finally, Barclays upgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $32.00 to $36.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $33.50.

Interpublic Group of Companies Trading Down 1.8 %

NYSE:IPG traded down $0.49 during midday trading on Friday, reaching $27.08. 6,038,184 shares of the stock traded hands, compared to its average volume of 5,156,288. The stock has a market capitalization of $10.09 billion, a P/E ratio of 14.80 and a beta of 1.11. 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 company has a fifty day moving average of $28.09 and a 200 day moving average of $29.74. The Interpublic Group of Companies, Inc. has a 12 month low of $26.30 and a 12 month high of $35.17.

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 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%. On average, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to repurchase $155.00 million in shares. This repurchase authorization allows the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 72.13%.

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.