Edgestream Partners L.P. Sells 27,852 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Edgestream Partners L.P. trimmed its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 33.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,272 shares of the business services provider’s stock after selling 27,852 shares during the quarter. Edgestream Partners L.P.’s holdings in Interpublic Group of Companies were worth $1,577,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. State Street Corp increased its stake in Interpublic Group of Companies by 15.1% during the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after purchasing an additional 3,920,975 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Interpublic Group of Companies by 240.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after purchasing an additional 20,395 shares in the last quarter. ING Groep NV bought a new position in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $1,589,000. Bridgewater Associates LP grew its stake in shares of Interpublic Group of Companies by 956.5% during the 3rd quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock worth $3,313,000 after acquiring an additional 94,821 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Interpublic Group of Companies by 18.1% during the 3rd quarter. Victory Capital Management Inc. now owns 706,774 shares of the business services provider’s stock worth $22,355,000 after acquiring an additional 108,267 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the sale, the chief financial officer now owns 143,373 shares of the company’s stock, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IPG shares. StockNews.com started coverage on shares of Interpublic Group of Companies in a research note on Sunday. They set a “hold” rating for the company. 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 stock from $32.00 to $39.00 in a research note on Monday, January 27th. 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 stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. Finally, Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Trading Up 0.1 %

NYSE IPG opened at $28.22 on Tuesday. The company has a market cap of $10.52 billion, a PE ratio of 15.42 and a beta of 1.14. 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 12 month low of $26.15 and a 12 month high of $35.17. The stock has a 50 day moving average of $27.75 and a 200-day moving average of $29.44.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data 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 net margin of 6.45% and a return on equity of 27.10%. On average, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

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 a sign that the company’s board of directors believes its stock is undervalued.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is 72.13%.

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.