HighTower Advisors LLC Decreases Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

HighTower Advisors LLC lowered its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 32.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,230 shares of the business services provider’s stock after selling 34,697 shares during the quarter. HighTower Advisors LLC’s holdings in Interpublic Group of Companies were worth $1,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP increased its stake in shares of Interpublic Group of Companies by 75.8% in the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after buying an additional 480 shares during the period. OFI Invest Asset Management purchased a new position in shares of Interpublic Group of Companies in the fourth quarter valued at about $36,000. Brooklyn Investment Group bought a new position in shares of Interpublic Group of Companies during the third quarter valued at about $60,000. Transamerica Financial Advisors Inc. raised its stake in shares of Interpublic Group of Companies by 243,700.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 2,437 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Interpublic Group of Companies during the third quarter worth about $107,000. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Stock Up 0.1 %

Shares of IPG stock opened at $26.51 on Monday. The Interpublic Group of Companies, Inc. has a 12 month low of $25.85 and a 12 month high of $33.05. The company has a 50 day simple moving average of $27.53 and a two-hundred day simple moving average of $29.08. 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 stock has a market cap of $9.88 billion, a P/E ratio of 14.48 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data 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 return on equity of 27.10% and a net margin of 6.45%. On average, research analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

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

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.33 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.98%. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction 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 directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their target price 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 research report on Friday, January 10th. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. StockNews.com started coverage on Interpublic Group of Companies in a report on Monday, March 17th. They issued a “hold” rating for the company. Finally, Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $32.00 to $36.00 in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.