Ameriprise Financial Inc. Sells 46,302 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Ameriprise Financial Inc. trimmed its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 13.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 297,396 shares of the business services provider’s stock after selling 46,302 shares during the quarter. Ameriprise Financial Inc. owned about 0.08% of Interpublic Group of Companies worth $8,333,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. AQR Arbitrage LLC bought a new stake in Interpublic Group of Companies in the 4th quarter worth about $21,161,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in Interpublic Group of Companies in the fourth quarter worth about $1,966,000. One68 Global Capital LLC purchased a new position in Interpublic Group of Companies in the fourth quarter worth about $532,000. Parvin Asset Management LLC purchased a new position in Interpublic Group of Companies in the fourth quarter worth about $102,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Interpublic Group of Companies in the fourth quarter worth about $1,497,000. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Stock Down 1.1%

IPG stock opened at $25.19 on Wednesday. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. 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 stock has a market cap of $9.31 billion, a P/E ratio of 13.77 and a beta of 1.09. The business’s 50-day moving average price is $25.13 and its 200-day moving average price is $27.27.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm earned $0.36 EPS. The firm’s revenue was down 6.9% compared to the same quarter last year. On average, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its board has initiated a share buyback program on Wednesday, February 12th that permits the company to repurchase $155.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

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 stock was sold at an average price of $26.82, for a total value of $574,672.14. Following the transaction, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. The trade was a 13.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IPG. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Barclays dropped their target price on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Citigroup reissued a “buy” rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Finally, StockNews.com started coverage on Interpublic Group of Companies in a research report on Tuesday. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.44.

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.