Mission Wealth Management LP Lowers Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Mission Wealth Management LP trimmed its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 25.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,942 shares of the business services provider’s stock after selling 6,031 shares during the quarter. Mission Wealth Management LP’s holdings in Interpublic Group of Companies were worth $503,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Interpublic Group of Companies by 15.1% during the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after purchasing an additional 3,920,975 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Interpublic Group of Companies by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock worth $393,064,000 after purchasing an additional 270,857 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Interpublic Group of Companies by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 9,449,534 shares of the business services provider’s stock worth $298,107,000 after purchasing an additional 81,265 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Interpublic Group of Companies by 25,637.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,403,256 shares of the business services provider’s stock worth $207,439,000 after acquiring an additional 7,374,491 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Interpublic Group of Companies by 10.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,402,349 shares of the business services provider’s stock worth $139,246,000 after acquiring an additional 417,741 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the transaction, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Stock Up 1.7 %

Interpublic Group of Companies stock opened at $27.18 on Thursday. 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 52 week low of $26.15 and a 52 week high of $35.17. The business’s 50-day moving average price is $27.76 and its 200 day moving average price is $29.53. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of 14.85 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 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, sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

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

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.33 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.86%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IPG. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Saturday, March 1st. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Friday, January 10th. Finally, UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.50.

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.