The Interpublic Group of Companies, Inc. (NYSE:IPG) Sees Large Growth in Short Interest

The Interpublic Group of Companies, Inc. (NYSE:IPG) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 33,210,000 shares, an increase of 43.6% from the February 13th total of 23,130,000 shares. Approximately 9.0% of the shares of the stock are sold short. Based on an average daily volume of 6,390,000 shares, the days-to-cover ratio is presently 5.2 days.

Insiders Place Their Bets

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On Interpublic Group of Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Empirical Finance LLC boosted its stake in shares of Interpublic Group of Companies by 1.3% during the third quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider’s stock valued at $1,031,000 after purchasing an additional 409 shares in the last quarter. West Oak Capital LLC lifted its position in Interpublic Group of Companies by 0.8% during the fourth quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider’s stock valued at $1,558,000 after acquiring an additional 435 shares during the last quarter. Prosperity Consulting Group LLC lifted its position in Interpublic Group of Companies by 2.3% during the fourth quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider’s stock valued at $595,000 after acquiring an additional 470 shares during the last quarter. Allworth Financial LP lifted its position in 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 last quarter. Finally, GeoWealth Management LLC raised 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 worth $94,000 after buying an additional 573 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on IPG shares. StockNews.com started coverage on shares of Interpublic Group of Companies in a research report on Monday. They set a “hold” rating on the stock. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $32.00 to $36.00 in a research report on Friday, January 24th. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Trading Down 0.7 %

IPG stock traded down $0.20 during mid-day trading on Monday, reaching $26.23. The company had a trading volume of 7,451,620 shares, compared to its average volume of 4,474,937. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $9.78 billion, a PE ratio of 14.33 and a beta of 1.14. The firm has a 50 day moving average of $27.63 and a 200 day moving average of $29.28. Interpublic Group of Companies has a 12 month low of $25.93 and a 12 month high of $33.29.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts predict that Interpublic Group of Companies will post 2.66 earnings per share for the current fiscal year.

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

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.03%. Interpublic Group of Companies’s dividend payout ratio is presently 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.