The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management decreased its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 30.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,998 shares of the business services provider’s stock after selling 6,559 shares during the quarter. Ritholtz Wealth Management’s holdings in Interpublic Group of Companies were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Gateway Investment Advisers LLC acquired a new position in Interpublic Group of Companies during the fourth quarter worth $441,000. Park Avenue Securities LLC grew its stake in shares of Interpublic Group of Companies by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 28,238 shares of the business services provider’s stock worth $791,000 after acquiring an additional 1,205 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Interpublic Group of Companies by 389.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,487 shares of the business services provider’s stock worth $1,975,000 after buying an additional 56,087 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in Interpublic Group of Companies by 127.7% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 15,723 shares of the business services provider’s stock valued at $441,000 after buying an additional 8,819 shares in the last quarter. Finally, West Oak Capital LLC raised its holdings 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 worth $1,558,000 after purchasing an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $28.22 on Wednesday. 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 52 week low of $26.30 and a 52 week high of $35.17. The company has a 50-day moving average price of $28.79 and a two-hundred day moving average price of $30.05. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 13.31 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. Analysts forecast that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.33 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.68%. Interpublic Group of Companies’s payout ratio is 62.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IPG shares. Macquarie reiterated a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Barclays lowered their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. 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 report on Friday, January 10th. Finally, StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research report on Monday. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.50.

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.