Interpublic Group of Companies (NYSE:IPG) Stock Price Down 5.6% – Time to Sell?

The Interpublic Group of Companies, Inc. (NYSE:IPG) dropped 5.6% during mid-day trading on Wednesday . The company traded as low as $23.73 and last traded at $23.73. Approximately 4,063,405 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 5,081,102 shares. The stock had previously closed at $25.14.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IPG. Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. StockNews.com assumed coverage on Interpublic Group of Companies in a research report on Thursday, April 10th. They issued a “hold” rating for the company. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $32.00 to $39.00 in a report on Monday, January 27th. Finally, UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $27.00 in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and a consensus target price of $33.67.

Interpublic Group of Companies Trading Down 7.4 %

The business has a fifty day moving average price of $26.33 and a 200 day moving average price of $28.31. The firm has a market cap of $8.68 billion, a PE ratio of 12.73 and a beta of 1.01. 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 data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share 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%. Analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.67%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

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

Insider Activity

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s 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 completion of the sale, the chief financial officer now owns 143,373 shares in the company, valued at $3,845,263.86. This represents a 13.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP grew its holdings 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 worth $31,000 after buying an additional 480 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in Interpublic Group of Companies during the 1st quarter worth approximately $31,000. OFI Invest Asset Management purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at approximately $36,000. Raiffeisen Bank International AG purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at approximately $42,000. Finally, GeoWealth Management LLC increased 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. 98.43% of the stock is currently owned by institutional investors and hedge funds.

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.