The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Whittier Trust Co.

Whittier Trust Co. reduced its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 21.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,188 shares of the business services provider’s stock after selling 1,696 shares during the quarter. Whittier Trust Co.’s holdings in Interpublic Group of Companies were worth $173,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IPG. Quest Partners LLC increased its position in Interpublic Group of Companies by 418.7% during the 3rd quarter. Quest Partners LLC now owns 6,878 shares of the business services provider’s stock valued at $218,000 after buying an additional 5,552 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Interpublic Group of Companies in the third quarter valued at about $294,000. Raymond James Trust N.A. increased its holdings in shares of Interpublic Group of Companies by 13.0% in the third quarter. Raymond James Trust N.A. now owns 39,906 shares of the business services provider’s stock valued at $1,262,000 after purchasing an additional 4,601 shares during the period. Cerity Partners LLC increased its holdings in shares of Interpublic Group of Companies by 448.5% in the third quarter. Cerity Partners LLC now owns 268,154 shares of the business services provider’s stock valued at $8,482,000 after purchasing an additional 219,263 shares during the period. Finally, Swedbank AB increased its holdings in shares of Interpublic Group of Companies by 2.1% in the third quarter. Swedbank AB now owns 613,367 shares of the business services provider’s stock valued at $19,401,000 after purchasing an additional 12,431 shares during the period. 98.43% of the stock is 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 the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the transaction, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IPG shares. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $39.00 in a report on Monday, January 27th. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Friday, January 10th. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, StockNews.com started coverage on Interpublic Group of Companies in a research note on Monday, March 17th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Stock Performance

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

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies declared that its Board of Directors has approved a share 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are 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 given a dividend of $0.33 per share. The ex-dividend date of this dividend 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 currently 72.13%.

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.