Corient Private Wealth LLC Lowers Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Corient Private Wealth LLC lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 18.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 148,045 shares of the business services provider’s stock after selling 33,464 shares during the period. Corient Private Wealth LLC’s holdings in Interpublic Group of Companies were worth $4,149,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IPG. Pacer Advisors Inc. boosted its position in shares of Interpublic Group of Companies by 25,637.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after purchasing an additional 7,374,491 shares during the period. State Street Corp boosted its position in Interpublic Group of Companies by 15.1% in the 3rd 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 during the period. Amundi boosted its position in Interpublic Group of Companies by 133.6% in the 4th quarter. Amundi now owns 5,402,201 shares of the business services provider’s stock valued at $150,393,000 after buying an additional 3,089,387 shares during the period. Raymond James Financial Inc. purchased a new position in Interpublic Group of Companies in the 4th quarter valued at approximately $51,794,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Interpublic Group of Companies by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider’s stock valued at $362,538,000 after buying an additional 511,607 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $26.51 on Friday. The company’s fifty day moving average price is $27.53 and its 200 day moving average price is $29.09. The Interpublic Group of Companies, Inc. has a 12 month low of $25.85 and a 12 month high of $33.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $9.88 billion, a P/E ratio of 14.48 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. As a group, sell-side 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 was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 4.98%. Interpublic Group of Companies’s dividend payout ratio is currently 72.13%.

Interpublic Group of Companies declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $155.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

IPG has been the subject of several recent research reports. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price target for the company from $32.00 to $39.00 in a research report on Monday, January 27th. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Finally, StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research report on Monday, March 17th. They set a “hold” rating for the company. One equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.50.

Insider Buying and Selling

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 value of $574,672.14. Following the transaction, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is owned by company 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.