The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Transform Wealth LLC

Transform Wealth LLC lowered its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 25.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 12,375 shares of the business services provider’s stock after selling 4,237 shares during the quarter. Transform Wealth LLC’s holdings in Interpublic Group of Companies were worth $336,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its holdings in shares of Interpublic Group of Companies by 139.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider’s stock valued at $370,157,000 after buying an additional 7,693,636 shares in the last quarter. Amundi boosted its stake in shares of Interpublic Group of Companies by 133.6% during the 4th quarter. Amundi now owns 5,402,201 shares of the business services provider’s stock worth $150,393,000 after acquiring an additional 3,089,387 shares in the last quarter. Magnetar Financial LLC grew its holdings in shares of Interpublic Group of Companies by 12,548.6% in the 4th quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider’s stock worth $67,955,000 after acquiring an additional 2,406,073 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Interpublic Group of Companies during the fourth quarter worth $51,794,000. Finally, First Trust Advisors LP lifted its holdings in shares of Interpublic Group of Companies by 13.0% during the fourth quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider’s stock valued at $363,584,000 after purchasing an additional 1,492,019 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the topic of a number of analyst reports. Wall Street Zen assumed coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a “hold” rating on the stock. UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Citigroup reissued a “buy” rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Barclays reduced their price target on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Finally, Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.44.

Interpublic Group of Companies Stock Down 0.0%

Interpublic Group of Companies stock opened at $23.76 on Thursday. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. 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 firm has a market cap of $8.79 billion, a PE ratio of 12.98 and a beta of 1.06. The firm’s 50 day moving average price is $24.34 and its two-hundred day moving average price is $26.69.

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 for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business posted $0.36 earnings per share. Interpublic Group of Companies’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.56%. The ex-dividend date is Monday, June 2nd. Interpublic Group of Companies’s payout ratio is currently 100.76%.

Interpublic Group of Companies announced that its Board of Directors has initiated a stock buyback 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.