Raymond James & Associates Cuts Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Raymond James & Associates lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,677,257 shares of the business services provider’s stock after selling 98,931 shares during the period. Raymond James & Associates owned about 0.44% of Interpublic Group of Companies worth $54,746,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC purchased a new stake in Interpublic Group of Companies during the 4th quarter valued at about $256,699,000. First Trust Advisors LP grew its stake in Interpublic Group of Companies by 1,196.9% during the 1st quarter. First Trust Advisors LP now owns 6,280,702 shares of the business services provider’s stock valued at $222,651,000 after acquiring an additional 5,796,432 shares in the last quarter. Barclays PLC grew its stake in Interpublic Group of Companies by 462.8% during the 2nd quarter. Barclays PLC now owns 1,939,546 shares of the business services provider’s stock valued at $74,829,000 after acquiring an additional 1,594,945 shares in the last quarter. Black Creek Investment Management Inc. grew its stake in Interpublic Group of Companies by 14.1% during the 3rd quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock valued at $278,649,000 after acquiring an additional 1,204,630 shares in the last quarter. Finally, Morgan Stanley grew its stake in Interpublic Group of Companies by 29.3% during the 4th quarter. Morgan Stanley now owns 4,885,776 shares of the business services provider’s stock valued at $162,745,000 after acquiring an additional 1,108,179 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $32.76 on Thursday. The firm’s 50 day moving average price is $32.38 and its 200-day moving average price is $31.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.06 and a current ratio of 1.06. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year high of $40.95. The firm has a market cap of $12.41 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.22 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.16 by $0.02. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Interpublic Group of Companies had a net margin of 10.09% and a return on equity of 30.52%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 EPS. As a group, equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.03%. Interpublic Group of Companies’s dividend payout ratio is currently 46.32%.

Analyst Ratings Changes

Several analysts recently issued reports on IPG shares. Wells Fargo & Company upped their price objective on shares of Interpublic Group of Companies from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Barclays increased their price target on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Finally, UBS Group assumed coverage on shares of Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $35.78.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies 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 sale, 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 SEC, which is available at the SEC website. In related news, CAO Christopher F. Carroll sold 18,382 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 42,390 shares of the company’s stock, valued at approximately $1,364,958. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew Bonzani sold 40,468 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 70,431 shares in the company, valued at $2,267,878.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,646 shares of company stock valued at $8,038,601. Insiders own 0.33% of the company’s stock.

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.