Global Retirement Partners LLC Sells 1,214 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Global Retirement Partners LLC lessened its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 33.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,378 shares of the business services provider’s stock after selling 1,214 shares during the quarter. Global Retirement Partners LLC’s holdings in Interpublic Group of Companies were worth $67,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in shares of Interpublic Group of Companies by 15.1% during the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after buying an additional 3,920,975 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Interpublic Group of Companies by 240.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after buying an additional 20,395 shares during the period. International Assets Investment Management LLC lifted its position in shares of Interpublic Group of Companies by 2,679.9% during the 3rd quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock worth $965,000 after buying an additional 29,425 shares during the period. ING Groep NV bought a new position in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $1,589,000. Finally, Bridgewater Associates LP lifted its position in shares of Interpublic Group of Companies by 956.5% during the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock worth $3,313,000 after buying an additional 94,821 shares during the period. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 1.4 %

NYSE IPG opened at $27.40 on Friday. The stock has a fifty day moving average of $27.86 and a 200-day moving average of $29.63. The stock has a market capitalization of $10.21 billion, a P/E ratio of 14.97 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 52 week low of $26.30 and a 52 week high of $35.17. 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 released its earnings results on Wednesday, February 12th. The business services provider reported $1.11 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%. On average, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $155.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.82%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Wall Street Analyst Weigh In

IPG has been the subject of a number of recent analyst reports. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. BNP Paribas raised 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 raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $32.00 to $36.00 in a report on Friday, January 24th. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, StockNews.com initiated coverage on Interpublic Group of Companies in a report on Saturday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.