River Road Asset Management LLC Sells 97,839 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

River Road Asset Management LLC reduced its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 37.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,176 shares of the business services provider’s stock after selling 97,839 shares during the quarter. River Road Asset Management LLC’s holdings in Interpublic Group of Companies were worth $4,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Interpublic Group of Companies during the 3rd quarter valued at about $32,000. Allworth Financial LP raised its holdings in shares of Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 480 shares during the last quarter. OFI Invest Asset Management bought a new position in Interpublic Group of Companies during the fourth quarter valued at approximately $36,000. Brooklyn Investment Group purchased a new stake in Interpublic Group of Companies in the third quarter worth approximately $60,000. Finally, Transamerica Financial Advisors Inc. grew its position in Interpublic Group of Companies by 243,700.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock worth $78,000 after purchasing an additional 2,437 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the business’s 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 owns 143,373 shares in the company, valued at $3,845,263.86. The trade was a 13.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $27.36 on Wednesday. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 14.95 and a beta of 1.14. The Interpublic Group of Companies, Inc. has a 52-week low of $26.15 and a 52-week high of $35.17. 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 company’s 50 day moving average is $27.74 and its 200 day moving average is $29.41.

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

Interpublic Group of Companies Announces Dividend

The company also recently declared 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 dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s payout ratio is 72.13%.

Analysts Set New Price Targets

Several brokerages recently commented on IPG. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a report on Sunday. They issued a “hold” rating for the company. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Friday, January 10th. 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 four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.50.

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.