Commerce Bank Has $20.63 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Commerce Bank lowered its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 26.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 736,084 shares of the business services provider’s stock after selling 270,015 shares during the quarter. Commerce Bank’s holdings in Interpublic Group of Companies were worth $20,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of 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 in the last quarter. OFI Invest Asset Management bought a new position in shares of Interpublic Group of Companies during the fourth quarter worth approximately $36,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Interpublic Group of Companies in the third quarter valued at approximately $107,000. Canada Post Corp Registered Pension Plan acquired a new stake in Interpublic Group of Companies during the fourth quarter worth approximately $141,000. Finally, CENTRAL TRUST Co raised its holdings in Interpublic Group of Companies by 10.6% in the 4th quarter. CENTRAL TRUST Co now owns 7,037 shares of the business services provider’s stock valued at $197,000 after acquiring an additional 675 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $23.91 on Friday. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 13.07 and a beta of 1.01. The business has a 50-day moving average of $26.11 and a 200-day moving average of $28.17. 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 Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share 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%. As a group, equities research analysts anticipate 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 share repurchase program on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Insider Transactions at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the sale, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IPG. Citigroup restated a “buy” rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday. StockNews.com started coverage on shares of Interpublic Group of Companies in a research report on Friday. They set a “hold” rating for the company. Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $39.00 in a research note on Monday, January 27th. Finally, Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $36.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.67.

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.