D. E. Shaw & Co. Inc. Sells 4,760 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

D. E. Shaw & Co. Inc. lessened its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,009 shares of the business services provider’s stock after selling 4,760 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Interpublic Group of Companies were worth $1,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IPG. Prosperity Consulting Group LLC boosted its position in Interpublic Group of Companies by 2.3% in the 4th quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider’s stock valued at $595,000 after buying an additional 470 shares during the period. Allworth Financial LP raised its stake 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 acquiring an additional 480 shares in the last quarter. GeoWealth Management LLC boosted its holdings in shares of Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 573 shares during the period. Xponance Inc. grew its stake in Interpublic Group of Companies by 1.0% in the fourth quarter. Xponance Inc. now owns 59,844 shares of the business services provider’s stock worth $1,677,000 after purchasing an additional 587 shares in the last quarter. Finally, Proactive Wealth Strategies LLC increased its holdings in Interpublic Group of Companies by 5.8% during the 4th quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock worth $311,000 after purchasing an additional 607 shares during the period. Institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IPG. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Citigroup reissued a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Wall Street Zen began coverage on shares of Interpublic Group of Companies in a research note on Tuesday. They set a “hold” rating on the stock. Finally, Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and a consensus price target of $33.44.

Interpublic Group of Companies Stock Down 0.2%

Shares of IPG opened at $24.01 on Friday. The firm has a market cap of $8.88 billion, a P/E ratio of 13.12 and a beta of 1.09. The Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The stock’s 50 day moving average is $24.99 and its two-hundred day moving average is $27.17. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

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

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.50%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 100.76%.

Interpublic Group of Companies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $155.00 million in shares. This buyback authorization allows the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction 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 sale, the chief financial officer now owns 143,373 shares of the company’s stock, valued at $3,845,263.86. The trade was a 13.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

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.