The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 9.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,000 shares of the business services provider’s stock after selling 19,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.05% of Interpublic Group of Companies worth $5,408,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IPG. Allworth Financial LP boosted 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 valued at $31,000 after acquiring an additional 480 shares during the period. OFI Invest Asset Management acquired a new position in Interpublic Group of Companies during the 4th quarter valued at about $36,000. Wilmington Savings Fund Society FSB bought a new position in Interpublic Group of Companies in the 3rd quarter worth about $107,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Interpublic Group of Companies in the fourth quarter valued at approximately $141,000. Finally, Virtu Financial LLC bought a new stake in shares of Interpublic Group of Companies during the third quarter valued at approximately $206,000. 98.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG opened at $23.91 on Friday. The Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 13.07 and a beta of 1.01. 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’s fifty day simple moving average is $26.18 and its 200 day simple moving average is $28.22.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (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 forecast that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

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

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is 72.13%.

Analyst Ratings Changes

Several brokerages have weighed in on IPG. StockNews.com started coverage on Interpublic Group of Companies in a research note on Friday. They set a “hold” rating on the stock. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Friday, January 10th. Citigroup reiterated a “buy” rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday. Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $39.00 in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.67.

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.