M&T Bank Corp Sells 10,882 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

M&T Bank Corp trimmed its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 81,175 shares of the business services provider’s stock after selling 10,882 shares during the quarter. M&T Bank Corp’s holdings in Interpublic Group of Companies were worth $2,274,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IPG. Allworth Financial LP grew its position in Interpublic Group of Companies by 75.8% in 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 period. Ashton Thomas Securities LLC bought a new stake in Interpublic Group of Companies in the third quarter valued at $32,000. Brooklyn Investment Group bought a new stake in Interpublic Group of Companies in the third quarter valued at $60,000. Transamerica Financial Advisors Inc. grew its position in Interpublic Group of Companies by 243,700.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 2,437 shares during the period. Finally, AM Squared Ltd grew its position in Interpublic Group of Companies by 63.2% in the third quarter. AM Squared Ltd now owns 3,100 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 1,200 shares during the period. 98.43% of the stock is currently owned by institutional investors.

Insider Activity

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total value of $574,672.14. Following the transaction, the chief financial officer now owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is currently owned by insiders.

Interpublic Group of Companies Trading Up 3.2 %

Shares of IPG opened at $28.20 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12-month low of $26.15 and a 12-month high of $35.17. The firm has a market capitalization of $10.51 billion, a PE ratio of 15.41 and a beta of 1.14. The stock’s fifty day simple moving average is $27.74 and its 200-day simple moving average is $29.47.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. As a group, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Analysts Set New Price Targets

IPG has been the topic of a number of analyst reports. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Sunday. They issued a “hold” rating on the stock. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $39.00 in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus target price of $33.50.

Interpublic Group of Companies 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.