The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 81.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,942 shares of the business services provider’s stock after selling 132,025 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Interpublic Group of Companies were worth $977,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bleakley Financial Group LLC grew its position in Interpublic Group of Companies by 4.6% in the fourth quarter. Bleakley Financial Group LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after buying an additional 327 shares during the last quarter. Keybank National Association OH grew its position in Interpublic Group of Companies by 3.3% in the third quarter. Keybank National Association OH now owns 12,000 shares of the business services provider’s stock worth $344,000 after buying an additional 387 shares during the last quarter. Great Lakes Retirement Inc. grew its position in Interpublic Group of Companies by 3.9% in the fourth quarter. Great Lakes Retirement Inc. now owns 10,198 shares of the business services provider’s stock worth $333,000 after buying an additional 387 shares during the last quarter. Western Pacific Wealth Management LP grew its position in Interpublic Group of Companies by 7.2% in the third quarter. Western Pacific Wealth Management LP now owns 6,026 shares of the business services provider’s stock worth $173,000 after buying an additional 405 shares during the last quarter. Finally, Huntington National Bank grew its position in Interpublic Group of Companies by 2.1% in the third quarter. Huntington National Bank now owns 19,586 shares of the business services provider’s stock worth $561,000 after buying an additional 411 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on IPG. 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 research report on Friday, February 9th. Barclays raised their price objective on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Wells Fargo & Company raised their price objective on shares of Interpublic Group of Companies from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. Finally, UBS Group began coverage on shares of Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.25.

Interpublic Group of Companies Trading Down 0.1 %

Interpublic Group of Companies stock opened at $30.99 on Wednesday. The company has a 50 day moving average price of $31.94 and a 200 day moving average price of $31.35. The Interpublic Group of Companies, Inc. has a 52 week low of $27.20 and a 52 week high of $40.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 2.11 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results 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. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Interpublic Group of Companies had a net margin of 10.09% and a return on equity of 30.52%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. Research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.33 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.26%. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.31. Interpublic Group of Companies’s dividend payout ratio (DPR) is 46.32%.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the completion of the sale, the chief accounting officer now owns 42,390 shares of the company’s stock, valued at approximately $1,364,958. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Christopher F. Carroll sold 18,382 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the transaction, the chief accounting officer now owns 42,390 shares in the company, valued at approximately $1,364,958. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philippe Krakowsky sold 150,403 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 415,776 shares in the company, valued at approximately $13,387,987.20. The disclosure for this sale can be found here. Insiders sold 249,646 shares of company stock valued at $8,038,601 in the last quarter. Company insiders own 0.35% of the company’s stock.

About Interpublic Group of Companies

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.