The Interpublic Group of Companies, Inc. (NYSE:IPG) Short Interest Down 18.6% in March

The Interpublic Group of Companies, Inc. (NYSE:IPG - Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 28,320,000 shares, a decline of 18.6% from the March 15th total of 34,790,000 shares. Approximately 7.6% of the company's shares are sold short. Based on an average daily volume of 7,070,000 shares, the short-interest ratio is currently 4.0 days.

Analyst Ratings Changes

IPG has been the subject of several analyst reports. Barclays raised shares of Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $32.00 to $36.00 in a report on Friday, January 24th. StockNews.com started coverage on Interpublic Group of Companies in a research note on Friday, April 18th. They set a "hold" rating on the stock. 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 stock from $32.00 to $39.00 in a research note on Monday, January 27th. UBS Group upgraded Interpublic Group of Companies from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, Argus lowered shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of "Hold" and a consensus price target of $33.67.

Interpublic Group of Companies Trading Up 4.8 %

Shares of NYSE:IPG traded up $1.14 during trading on Thursday, reaching $25.13. 6,581,226 shares of the stock were exchanged, compared to its average volume of 5,131,231. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 13.73 and a beta of 1.01. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. Interpublic Group of Companies has a 12-month low of $22.51 and a 12-month high of $33.05. The firm's 50-day moving average price is $25.92 and its 200 day moving average price is $28.02.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. On average, sell-side analysts anticipate that Interpublic Group of Companies will post 2.66 earnings per share for the current fiscal year.

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

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.33 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.25%. Interpublic Group of Companies's payout ratio is 72.13%.

Insiders Place Their Bets

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

Institutional Trading of Interpublic Group of Companies

A number of hedge funds have recently bought and sold shares of IPG. Allworth Financial LP lifted its holdings in shares of Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after buying an additional 480 shares during the last quarter. Sentry Investment Management LLC bought a new position in Interpublic Group of Companies during the first quarter valued at about $31,000. OFI Invest Asset Management acquired a new position in shares of Interpublic Group of Companies in the fourth quarter valued at $36,000. Raiffeisen Bank International AG acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at about $42,000. Finally, FNY Investment Advisers LLC bought a new stake in Interpublic Group of Companies in the first quarter valued at $44,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

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.