Vanguard Group Inc. Has $1.29 Billion Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Vanguard Group Inc. decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,104,068 shares of the business services provider's stock after selling 30,182 shares during the quarter. Vanguard Group Inc. owned approximately 12.37% of Interpublic Group of Companies worth $1,291,836,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IPG. Allworth Financial LP raised its position in shares of Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after purchasing an additional 480 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $36,000. Brooklyn Investment Group acquired a new stake in shares of Interpublic Group of Companies in the 3rd quarter valued at about $60,000. Transamerica Financial Advisors Inc. lifted its holdings in Interpublic Group of Companies by 243,700.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider's stock worth $78,000 after buying an additional 2,437 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Interpublic Group of Companies in the 3rd quarter worth approximately $107,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

IPG traded down $1.05 on Tuesday, reaching $26.11. The company had a trading volume of 6,197,812 shares, compared to its average volume of 4,966,814. The company has a market capitalization of $9.73 billion, a P/E ratio of 14.27 and a beta of 1.14. 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 fifty day moving average of $27.35 and a 200-day moving average of $28.85. The Interpublic Group of Companies, Inc. has a one year low of $25.85 and a one year high of $33.05.

Remove Ads

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted 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 net margin of 6.45% and a return on equity of 27.10%. As a group, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies announced that its Board of Directors has approved 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 often a sign that the company's management believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies's payout ratio is 72.13%.

Insider Transactions at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares of the company's stock, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IPG shares. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a report on Tuesday, March 25th. They issued a "hold" rating for the company. Barclays raised Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $32.00 to $36.00 in a report on Friday, January 24th. Wells Fargo & Company upgraded Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Argus cut Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and upped their price target for the stock 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 assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $33.50.

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.