Commonwealth Equity Services LLC Lowers Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Commonwealth Equity Services LLC cut its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,645 shares of the business services provider’s stock after selling 2,982 shares during the period. Commonwealth Equity Services LLC’s holdings in Interpublic Group of Companies were worth $1,363,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IPG. Townsquare Capital LLC bought a new position in shares of Interpublic Group of Companies in the 3rd quarter worth $215,000. Bridgewater Associates LP raised its holdings in Interpublic Group of Companies by 956.5% in the third quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock worth $3,313,000 after purchasing an additional 94,821 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Interpublic Group of Companies by 10.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,402,349 shares of the business services provider’s stock valued at $139,246,000 after buying an additional 417,741 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Interpublic Group of Companies by 11.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 16,071 shares of the business services provider’s stock valued at $508,000 after buying an additional 1,600 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Interpublic Group of Companies by 311.7% in the 3rd quarter. Verition Fund Management LLC now owns 137,915 shares of the business services provider’s stock worth $4,362,000 after buying an additional 104,420 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Interpublic Group of Companies presently has an average rating of “Hold” and a consensus target price of $33.50.

Insider Buying and Selling

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was 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 $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Interpublic Group of Companies Stock Down 0.4 %

Interpublic Group of Companies stock opened at $26.29 on Monday. The business’s 50-day simple moving average is $27.40 and its two-hundred day simple moving average is $28.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $9.80 billion, a PE ratio of 14.37 and a beta of 1.14. The Interpublic Group of Companies, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS 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 analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.02%. Interpublic Group of Companies’s payout ratio is currently 72.13%.

Interpublic Group of Companies announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

About Interpublic Group of Companies

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.