Mutual of America Capital Management LLC Cuts Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Mutual of America Capital Management LLC lowered its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 44,618 shares of the business services provider’s stock after selling 1,626 shares during the period. Mutual of America Capital Management LLC’s holdings in Interpublic Group of Companies were worth $1,250,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in shares of Interpublic Group of Companies by 25,637.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock valued at $207,439,000 after buying an additional 7,374,491 shares during the last quarter. State Street Corp boosted its holdings in 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 valued at $943,993,000 after acquiring an additional 3,920,975 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Interpublic Group of Companies by 10.5% during the 3rd 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 worth $139,246,000 after acquiring an additional 417,741 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $9,041,000. Finally, Bank of New York Mellon Corp lifted its position in Interpublic Group of Companies by 7.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,271,759 shares of the business services provider’s stock valued at $119,695,000 after purchasing an additional 310,621 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Insider Activity

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the transaction, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG opened at $28.20 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a 1 year low of $26.15 and a 1 year high of $35.17. The company’s 50-day moving average is $27.74 and its 200 day moving average is $29.47. The stock has a market capitalization of $10.51 billion, a P/E ratio of 15.41 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last announced 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 return on equity of 27.10% and a net margin of 6.45%. On average, sell-side 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 of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IPG. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $36.00 in a report on Friday, January 24th. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. BNP Paribas raised 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. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $39.00 in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.50.

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.