Allianz Asset Management GmbH Sells 195,566 Shares of Interpublic Group of Companies Inc (NYSE:IPG)

Allianz Asset Management GmbH reduced its position in Interpublic Group of Companies Inc (NYSE:IPG) by 41.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 277,498 shares of the business services provider’s stock after selling 195,566 shares during the period. Allianz Asset Management GmbH owned 0.07% of Interpublic Group of Companies worth $5,594,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in Interpublic Group of Companies by 12.8% in the 4th quarter. BlackRock Inc. now owns 39,906,603 shares of the business services provider’s stock valued at $804,517,000 after acquiring an additional 4,539,905 shares during the period. Pzena Investment Management LLC increased its position in Interpublic Group of Companies by 99.2% in the 4th quarter. Pzena Investment Management LLC now owns 17,855,163 shares of the business services provider’s stock valued at $359,960,000 after acquiring an additional 8,890,439 shares during the period. Wells Fargo & Company MN increased its position in Interpublic Group of Companies by 32.7% in the 4th quarter. Wells Fargo & Company MN now owns 9,620,910 shares of the business services provider’s stock valued at $193,957,000 after acquiring an additional 2,370,784 shares during the period. Victory Capital Management Inc. increased its position in Interpublic Group of Companies by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 7,157,195 shares of the business services provider’s stock valued at $144,290,000 after acquiring an additional 547,757 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Interpublic Group of Companies by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 5,876,952 shares of the business services provider’s stock valued at $118,479,000 after acquiring an additional 193,561 shares during the period. 99.49% of the stock is owned by institutional investors and hedge funds.

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In other news, CFO Frank Mergenthaler sold 65,536 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $23.41, for a total transaction of $1,534,197.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrew Bonzani sold 28,627 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $23.46, for a total value of $671,589.42. The disclosure for this sale can be found here. Insiders have sold a total of 448,258 shares of company stock worth $10,563,009 in the last three months. Corporate insiders own 1.49% of the company’s stock.

NYSE IPG traded down $0.14 on Friday, hitting $23.15. 3,475,070 shares of the company’s stock were exchanged, compared to its average volume of 4,945,055. The stock has a market capitalization of $8,900.48, a price-to-earnings ratio of 16.30, a PEG ratio of 2.04 and a beta of 1.31. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.58. Interpublic Group of Companies Inc has a fifty-two week low of $18.30 and a fifty-two week high of $26.01.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, February 14th. The business services provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.07% and a net margin of 7.35%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 EPS. equities analysts forecast that Interpublic Group of Companies Inc will post 1.7 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its Board of Directors has approved a stock buyback program on Wednesday, February 14th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were paid a dividend of $0.21 per share. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 3.63%. Interpublic Group of Companies’s payout ratio is 59.57%.

Several equities analysts recently issued reports on the company. Pivotal Research restated a “hold” rating and issued a $26.00 price target on shares of Interpublic Group of Companies in a research report on Monday, February 19th. Macquarie upgraded Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and set a $24.00 price target on the stock in a research report on Friday, February 16th. Wells Fargo restated a “hold” rating on shares of Interpublic Group of Companies in a research report on Wednesday, February 14th. Jefferies Group restated a “neutral” rating on shares of Interpublic Group of Companies in a research report on Thursday, February 15th. Finally, BMO Capital Markets boosted their target price on Interpublic Group of Companies from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. Interpublic Group of Companies presently has an average rating of “Hold” and an average target price of $25.85.

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About Interpublic Group of Companies

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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