PNC Financial Services Group Inc. cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 5.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,291,541 shares of the business services provider's stock after selling 75,297 shares during the period. PNC Financial Services Group Inc. owned 0.35% of Interpublic Group of Companies worth $36,189,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in IPG. Ashton Thomas Securities LLC acquired a new position in shares of Interpublic Group of Companies during the third quarter worth about $32,000. Allworth Financial LP lifted its position in 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 worth $31,000 after acquiring an additional 480 shares in the last quarter. Brooklyn Investment Group purchased a new position in Interpublic Group of Companies in the 3rd quarter worth approximately $60,000. Transamerica Financial Advisors Inc. grew its position in Interpublic Group of Companies by 243,700.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider's stock valued at $78,000 after acquiring an additional 2,437 shares in the last quarter. Finally, AM Squared Ltd raised its stake in shares of Interpublic Group of Companies by 63.2% during the third quarter. AM Squared Ltd now owns 3,100 shares of the business services provider's stock valued at $98,000 after purchasing an additional 1,200 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the business'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 value of $574,672.14. Following the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at $3,845,263.86. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on IPG shares. BNP Paribas raised 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. Barclays upgraded Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $32.00 to $36.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $32.00 to $39.00 in a report on Monday, January 27th. Argus cut Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research note on Sunday. They issued a "hold" rating for the company. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $33.50.
Read Our Latest Stock Analysis on Interpublic Group of Companies
Interpublic Group of Companies Stock Performance
NYSE:IPG traded down $0.25 during mid-day trading on Thursday, hitting $26.11. The stock had a trading volume of 7,287,385 shares, compared to its average volume of 5,991,241. 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 company has a 50 day simple moving average of $27.70 and a 200-day simple moving average of $29.39. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 14.27 and a beta of 1.14. The Interpublic Group of Companies, Inc. has a 52 week low of $25.97 and a 52 week 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 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 expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.
Interpublic Group of Companies declared that its board has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.
Interpublic Group of Companies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies's payout ratio is currently 72.13%.
Interpublic Group of Companies Company Profile
(
Free Report)
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.
Further Reading
Before you consider Interpublic Group of Companies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Interpublic Group of Companies wasn't on the list.
While Interpublic Group of Companies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
