NewEdge Wealth LLC Sells 10,966 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

NewEdge Wealth LLC lowered its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 50.0% during the 4th quarter, HoldingsChannel reports. The firm owned 10,952 shares of the business services provider’s stock after selling 10,966 shares during the period. NewEdge Wealth LLC’s holdings in Interpublic Group of Companies were worth $357,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IPG. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Interpublic Group of Companies by 14.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,035 shares of the business services provider’s stock worth $817,000 after purchasing an additional 2,915 shares during the period. Cetera Advisor Networks LLC bought a new position in shares of Interpublic Group of Companies in the first quarter worth $243,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Interpublic Group of Companies in the first quarter worth $133,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Interpublic Group of Companies by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 52,667 shares of the business services provider’s stock worth $1,867,000 after purchasing an additional 3,244 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in shares of Interpublic Group of Companies by 1.0% in the first quarter. Yousif Capital Management LLC now owns 63,184 shares of the business services provider’s stock worth $2,240,000 after purchasing an additional 595 shares during the period. Institutional investors own 98.43% of the company’s stock.

Insider Transactions at Interpublic Group of Companies

In other Interpublic Group of Companies news, EVP Andrew Bonzani sold 40,468 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,303,069.60. Following the completion of the sale, the executive vice president now directly owns 70,431 shares in the company, valued at $2,267,878.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Andrew Bonzani sold 40,468 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the completion of the transaction, the executive vice president now directly owns 70,431 shares in the company, valued at $2,267,878.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philippe Krakowsky sold 150,403 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the sale, the chief executive officer now directly owns 415,776 shares of the company’s stock, valued at approximately $13,387,987.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,646 shares of company stock worth $8,038,601. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. UBS Group initiated coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a “neutral” rating and a $36.00 target price on the stock. Barclays increased their target price on Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company increased their target price on Interpublic Group of Companies from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and an average target price of $35.25.

Interpublic Group of Companies Stock Down 0.3 %

Shares of NYSE:IPG opened at $30.27 on Thursday. The stock’s 50-day moving average price is $32.01 and its 200-day moving average price is $31.27. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $40.95. The stock has a market capitalization of $11.42 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.73.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. Interpublic Group of Companies had a return on equity of 30.52% and a net margin of 10.09%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the firm earned $1.02 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current year.

Interpublic Group of Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.33 per share. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, February 29th. Interpublic Group of Companies’s dividend payout ratio is currently 46.32%.

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.