QRG Capital Management Inc. Reduces Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

QRG Capital Management Inc. trimmed its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 17.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 28,986 shares of the business services provider’s stock after selling 6,299 shares during the period. QRG Capital Management Inc.’s holdings in Interpublic Group of Companies were worth $812,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IPG. Pacer Advisors Inc. increased its stake in Interpublic Group of Companies by 25,637.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock valued at $207,439,000 after purchasing an additional 7,374,491 shares in the last quarter. State Street Corp increased its position in shares of Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after buying an additional 3,920,975 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Interpublic Group of Companies by 10.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,402,349 shares of the business services provider’s stock valued at $139,246,000 after buying an additional 417,741 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of Interpublic Group of Companies in the 4th quarter worth about $9,041,000. Finally, Bank of New York Mellon Corp grew its stake in Interpublic Group of Companies by 7.8% in the 4th quarter. Bank of New York Mellon Corp now owns 4,271,759 shares of the business services provider’s stock valued at $119,695,000 after acquiring an additional 310,621 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

IPG has been the topic of several recent research reports. Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $39.00 in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four 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 target price of $33.50.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $26.50 on Tuesday. The business’s 50-day moving average price is $27.82 and its 200 day moving average price is $29.58. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a twelve month low of $26.30 and a twelve month high of $35.17. The company has a market capitalization of $9.88 billion, a PE ratio of 14.48 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. On average, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

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

Interpublic Group of Companies Company 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.