44 Wealth Management LLC Reduces Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

44 Wealth Management LLC lowered its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 20.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,043 shares of the business services provider’s stock after selling 4,194 shares during the quarter. 44 Wealth Management LLC’s holdings in Interpublic Group of Companies were worth $450,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Interpublic Group of Companies in the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Interpublic Group of Companies in the 3rd quarter valued at about $32,000. Allworth Financial LP boosted its position in shares of Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 480 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Interpublic Group of Companies in the 3rd quarter valued at about $60,000. Finally, Transamerica Financial Advisors Inc. boosted its position in shares of Interpublic Group of Companies by 243,700.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock valued at $78,000 after purchasing an additional 2,437 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Finally, StockNews.com assumed coverage on Interpublic Group of Companies in a research report on Friday. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $33.50.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $27.08 on Friday. The company has a market cap of $10.09 billion, a price-to-earnings ratio of 14.80 and a beta of 1.11. The stock has a 50 day simple moving average of $28.03 and a 200-day simple moving average of $29.72. The Interpublic Group of Companies, Inc. has a 12-month low of $26.30 and a 12-month high of $35.17. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (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 forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $155.00 million in shares. This buyback authorization allows the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The firm also recently announced 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) 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.