Harris Associates L P cut its stake in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,084,919 shares of the business services provider’s stock after selling 2,013,173 shares during the quarter. Harris Associates L P owned 3.40% of Interpublic Group of Companies worth $269,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in IPG. Prime Capital Investment Advisors LLC bought a new stake in Interpublic Group of Companies during the fourth quarter valued at approximately $29,000. CWM LLC lifted its position in Interpublic Group of Companies by 85.2% during the fourth quarter. CWM LLC now owns 1,880 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 865 shares during the last quarter. Bremer Trust National Association bought a new stake in Interpublic Group of Companies during the fourth quarter valued at approximately $40,000. Westside Investment Management Inc. bought a new stake in Interpublic Group of Companies during the fourth quarter valued at approximately $41,000. Finally, Berman Capital Advisors LLC bought a new stake in Interpublic Group of Companies during the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 99.62% of the company’s stock.
In related news, CEO Michael Isor Roth sold 198,985 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $22.95, for a total transaction of $4,566,705.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jocelyn Carter-Miller sold 5,800 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $22.46, for a total transaction of $130,268.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 346,386 shares of company stock valued at $7,946,717. Company insiders own 1.32% of the company’s stock.
Shares of IPG opened at $22.15 on Wednesday. The company has a market capitalization of $8.58 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 4.43 and a beta of 1.07. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.01 and a quick ratio of 1.01. Interpublic Group of Companies Inc has a fifty-two week low of $19.61 and a fifty-two week high of $25.77.
Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, February 13th. The business services provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.10. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.34 billion. Interpublic Group of Companies had a net margin of 6.37% and a return on equity of 32.07%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. Equities research analysts expect that Interpublic Group of Companies Inc will post 1.87 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 4.24%. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, February 28th. Interpublic Group of Companies’s payout ratio is presently 50.54%.
Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered shares of Interpublic Group of Companies from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $28.00 to $24.00 in a research report on Thursday, January 17th. Zacks Investment Research lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. Finally, Pivotal Research upgraded shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $22.00 to $25.00 in a report on Monday, January 7th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.44.
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About Interpublic Group of Companies
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
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