Allspring Global Investments Holdings LLC Cuts Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Allspring Global Investments Holdings LLC trimmed its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,885 shares of the business services provider’s stock after selling 880 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Interpublic Group of Companies were worth $587,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new position in Interpublic Group of Companies during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in Interpublic Group of Companies during the 3rd quarter worth approximately $32,000. Brooklyn Investment Group purchased a new stake in Interpublic Group of Companies during the 3rd quarter worth approximately $60,000. Transamerica Financial Advisors Inc. grew its position 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 purchasing an additional 2,437 shares during the last quarter. Finally, AM Squared Ltd grew its position in Interpublic Group of Companies by 63.2% during the 3rd quarter. AM Squared Ltd now owns 3,100 shares of the business services provider’s stock worth $98,000 after purchasing an additional 1,200 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IPG. StockNews.com began coverage on shares of Interpublic Group of Companies in a research report on Friday. 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 boosted their target price for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Finally, BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG opened at $27.56 on Tuesday. 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 $28.03 and a two-hundred day simple moving average of $29.72. The Interpublic Group of Companies, Inc. has a 12 month low of $26.30 and a 12 month high of $35.17. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 15.06 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results 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, analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

Interpublic Group of Companies declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.