Federated Hermes Inc. Lowers Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Federated Hermes Inc. cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 61.7% in the 4th quarter, HoldingsChannel reports. The firm owned 32,573 shares of the business services provider’s stock after selling 52,386 shares during the period. Federated Hermes Inc.’s holdings in Interpublic Group of Companies were worth $913,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Interpublic Group of Companies by 0.8% during the 3rd quarter. Barclays PLC now owns 1,651,753 shares of the business services provider’s stock valued at $52,243,000 after buying an additional 13,546 shares in the last quarter. Virtu Financial LLC purchased a new stake in Interpublic Group of Companies during the third quarter valued at about $206,000. Sanctuary Advisors LLC grew its stake in shares of Interpublic Group of Companies by 26.6% during the third quarter. Sanctuary Advisors LLC now owns 58,838 shares of the business services provider’s stock valued at $1,740,000 after buying an additional 12,368 shares during the last quarter. Arvest Bank Trust Division bought a new stake in shares of Interpublic Group of Companies in the 3rd quarter valued at about $2,499,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in 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.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Friday, January 10th. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Citigroup restated a “buy” rating and set a $35.00 price target on shares of Interpublic Group of Companies in a report on Tuesday. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $32.00 to $39.00 in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average target price of $33.67.

Insider Transactions at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’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 owns 143,373 shares in the company, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Trading Up 0.5 %

IPG opened at $25.13 on Wednesday. The business has a 50 day moving average of $26.33 and a 200-day moving average of $28.31. The stock has a market cap of $9.36 billion, a PE ratio of 13.73 and a beta of 1.01. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced 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 dividend yield of 5.25%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s payout ratio is 72.13%.

Interpublic Group of Companies announced that its board has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $155.00 million in shares. This buyback authorization authorizes the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Interpublic Group of Companies 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.