The Interpublic Group of Companies, Inc. (NYSE:IPG) Stake Reduced by Private Trust Co. NA

Private Trust Co. NA cut its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 56.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,740 shares of the business services provider’s stock after selling 2,251 shares during the quarter. Private Trust Co. NA’s holdings in Interpublic Group of Companies were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in 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 worth $943,993,000 after acquiring an additional 3,920,975 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Interpublic Group of Companies by 240.9% in the third quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after acquiring an additional 20,395 shares in the last quarter. ING Groep NV bought a new stake in Interpublic Group of Companies in the third quarter worth about $1,589,000. Bridgewater Associates LP increased its stake in Interpublic Group of Companies by 956.5% in the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock worth $3,313,000 after purchasing an additional 94,821 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Interpublic Group of Companies by 18.1% in the 3rd quarter. Victory Capital Management Inc. now owns 706,774 shares of the business services provider’s stock worth $22,355,000 after purchasing an additional 108,267 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. StockNews.com assumed coverage on Interpublic Group of Companies in a research note on Saturday, March 1st. They issued a “hold” rating on the stock. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. BNP Paribas raised 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. 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. Finally, Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $26.00 to $34.00 in a research note on Tuesday, December 10th. One research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.50.

Interpublic Group of Companies Stock Up 1.7 %

IPG opened at $27.18 on Thursday. The Interpublic Group of Companies, Inc. has a twelve month low of $26.15 and a twelve month high of $35.17. The firm has a market cap of $10.13 billion, a P/E ratio of 14.85 and a beta of 1.11. The business has a 50 day moving average price of $27.76 and a 200 day moving average price of $29.53. 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 (NYSE:IPG) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Interpublic Group of Companies announced that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.42% of the stock is currently owned by company insiders.

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.