M&T Bank Corp Sells 27,284 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

M&T Bank Corp cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 20.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,849 shares of the business services provider’s stock after selling 27,284 shares during the period. M&T Bank Corp’s holdings in Interpublic Group of Companies were worth $3,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Black Creek Investment Management Inc. lifted its position in Interpublic Group of Companies by 14.1% in the third quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock worth $278,649,000 after buying an additional 1,204,630 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Interpublic Group of Companies by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,291,211 shares of the business services provider’s stock worth $266,286,000 after purchasing an additional 167,810 shares during the period. Boston Partners grew its holdings in Interpublic Group of Companies by 5.2% during the 3rd quarter. Boston Partners now owns 8,385,274 shares of the business services provider’s stock valued at $240,317,000 after purchasing an additional 414,110 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Interpublic Group of Companies by 24.6% during the third quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider’s stock valued at $132,852,000 after buying an additional 916,574 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Interpublic Group of Companies by 5.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,038,225 shares of the business services provider’s stock worth $87,076,000 after buying an additional 160,312 shares during the period. 98.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Interpublic Group of Companies news, EVP Andrew Bonzani sold 40,468 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,303,069.60. Following the completion of the sale, the executive vice president now directly owns 70,431 shares in the company, valued at $2,267,878.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Christopher F. Carroll sold 18,382 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the completion of the transaction, the chief accounting officer now directly owns 42,390 shares of the company’s stock, valued at approximately $1,364,958. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Bonzani sold 40,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $1,303,069.60. Following the transaction, the executive vice president now owns 70,431 shares in the company, valued at approximately $2,267,878.20. The disclosure for this sale can be found here. Insiders sold a total of 249,646 shares of company stock worth $8,038,601 in the last 90 days. 0.42% of the stock is owned by corporate insiders.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $30.96 on Wednesday. The company has a market cap of $11.68 billion, a PE ratio of 11.02, a P/E/G ratio of 2.24 and a beta of 1.13. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $40.95. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s 50 day moving average price is $31.66 and its 200-day moving average price is $31.48.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the business posted $0.38 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.26%. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.31. Interpublic Group of Companies’s payout ratio is presently 46.98%.

Analyst Upgrades and Downgrades

IPG has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Barclays lifted their price objective on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. JPMorgan Chase & Co. reduced their target price on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Finally, UBS Group started coverage on shares of Interpublic Group of Companies in a research note on Thursday, January 11th. They set a “neutral” rating and a $36.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.13.

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.