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

Corient Private Wealth LLC trimmed its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 18.4% during the fourth quarter, HoldingsChannel reports. The fund owned 148,045 shares of the business services provider’s stock after selling 33,464 shares during the quarter. Corient Private Wealth LLC’s holdings in Interpublic Group of Companies were worth $4,149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in Interpublic Group of Companies by 110.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 34,862 shares of the business services provider’s stock worth $977,000 after buying an additional 18,323 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in shares of Interpublic Group of Companies by 12.1% in the fourth quarter. Frank Rimerman Advisors LLC now owns 13,915 shares of the business services provider’s stock valued at $390,000 after purchasing an additional 1,498 shares in the last quarter. Vestcor Inc lifted its holdings in shares of Interpublic Group of Companies by 2,031.5% in the fourth quarter. Vestcor Inc now owns 125,907 shares of the business services provider’s stock valued at $3,528,000 after purchasing an additional 120,000 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter valued at about $3,973,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Interpublic Group of Companies by 17.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,119,711 shares of the business services provider’s stock valued at $31,374,000 after purchasing an additional 165,008 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research report on Monday, March 17th. They issued a “hold” rating for the company. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $36.00 in a research report on Friday, January 24th. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $39.00 in a research report on Monday, January 27th. Finally, Argus lowered 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 stock. According to data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $26.51 on Friday. The Interpublic Group of Companies, Inc. has a one year low of $25.85 and a one year 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 company has a 50 day moving average price of $27.53 and a 200 day moving average price of $29.09. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 14.48 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data 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%. Sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s payout ratio is currently 72.13%.

Interpublic Group of Companies declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $155.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value 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 represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

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.