Truist Financial Corp Has $786,000 Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Truist Financial Corp reduced its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,040 shares of the business services provider’s stock after selling 4,815 shares during the period. Truist Financial Corp’s holdings in Interpublic Group of Companies were worth $786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in IPG. International Assets Investment Management LLC boosted its stake in shares of Interpublic Group of Companies by 2,679.9% in the 3rd quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock valued at $965,000 after purchasing an additional 29,425 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Interpublic Group of Companies by 3.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 48,648 shares of the business services provider’s stock valued at $1,539,000 after purchasing an additional 1,721 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Interpublic Group of Companies by 5.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 43,630 shares of the business services provider’s stock valued at $1,380,000 after purchasing an additional 2,075 shares in the last quarter. abrdn plc boosted its stake in shares of Interpublic Group of Companies by 1.4% in the 3rd quarter. abrdn plc now owns 524,709 shares of the business services provider’s stock valued at $16,528,000 after purchasing an additional 7,354 shares in the last quarter. Finally, US Bancorp DE raised its holdings in Interpublic Group of Companies by 55.0% in the 3rd quarter. US Bancorp DE now owns 42,137 shares of the business services provider’s stock valued at $1,333,000 after buying an additional 14,950 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $27.40 on Friday. 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 business has a 50-day moving average price of $27.86 and a two-hundred day moving average price of $29.62. The Interpublic Group of Companies, Inc. has a 1-year low of $26.30 and a 1-year high of $35.17. The company has a market cap of $10.21 billion, a P/E ratio of 14.97 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly 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 return on equity of 27.10% and a net margin of 6.45%. As a group, analysts anticipate 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 authorized 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 generally an indication 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 will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued 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 yield of 4.82%. Interpublic Group of Companies’s payout ratio is currently 72.13%.

Analyst Upgrades and Downgrades

IPG has been the subject of a number of research reports. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $36.00 in a report on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $39.00 in a report on Monday, January 27th. 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 report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.50.

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.