Voya Investment Management LLC Sells 13,712 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Voya Investment Management LLC lessened its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,472 shares of the business services provider’s stock after selling 13,712 shares during the period. Voya Investment Management LLC’s holdings in Interpublic Group of Companies were worth $2,983,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of IPG. West Oak Capital LLC increased its position in shares of Interpublic Group of Companies by 0.8% in the 4th quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider’s stock valued at $1,558,000 after buying an additional 435 shares in the last quarter. Allworth Financial LP grew its stake in 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 valued at $31,000 after acquiring an additional 480 shares during the period. GeoWealth Management LLC increased its holdings in shares of Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after acquiring an additional 573 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Interpublic Group of Companies by 1.0% during the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider’s stock valued at $1,677,000 after purchasing an additional 587 shares in the last quarter. Finally, Proactive Wealth Strategies LLC lifted its holdings in shares of Interpublic Group of Companies by 5.8% during the 4th quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock valued at $311,000 after purchasing an additional 607 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction of $574,672.14. Following the completion of the transaction, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

IPG has been the topic of several research analyst reports. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Friday, January 10th. 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 stock from $32.00 to $39.00 in a report on Monday, January 27th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Barclays cut their price target on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Finally, Citigroup reiterated a “buy” rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average price target of $33.44.

Interpublic Group of Companies Stock Up 1.6 %

NYSE:IPG opened at $25.35 on Friday. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 13.85 and a beta of 1.01. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $25.58 and its two-hundred day moving average price is $27.72.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. Equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its Board of Directors has approved a stock 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board 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. Investors of record on Monday, March 3rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies’s payout ratio is currently 100.76%.

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.