The Interpublic Group of Companies, Inc. (NYSE:IPG) Short Interest Down 18.6% in March

The Interpublic Group of Companies, Inc. (NYSE:IPG) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 28,320,000 shares, a decline of 18.6% from the March 15th total of 34,790,000 shares. Approximately 7.6% of the company’s stock are sold short. Based on an average daily trading volume, of 7,070,000 shares, the short-interest ratio is presently 4.0 days.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock traded down $0.41 on Monday, hitting $23.53. The stock had a trading volume of 3,872,374 shares, compared to its average volume of 5,118,140. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 12.86 and a beta of 1.01. The business’s 50 day moving average is $26.11 and its two-hundred day moving average is $28.13. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. Interpublic Group of Companies has a twelve month low of $22.51 and a twelve month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS 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%. Analysts forecast that Interpublic Group of Companies will post 2.66 EPS for the current year.

Interpublic Group of Companies declared that its board has approved a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in 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 typically an indication that the company’s leadership believes its shares are undervalued.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.33 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.61%. Interpublic Group of Companies’s payout ratio is 72.13%.

Insider Buying and Selling at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies 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 sale, the chief financial officer now owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Interpublic Group of Companies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in shares of Interpublic Group of Companies by 350.7% during the 1st quarter. Avior Wealth Management LLC now owns 8,798 shares of the business services provider’s stock worth $239,000 after acquiring an additional 6,846 shares during the period. Centennial Wealth Advisory LLC lifted its stake in Interpublic Group of Companies by 15.0% during the first quarter. Centennial Wealth Advisory LLC now owns 14,296 shares of the business services provider’s stock worth $388,000 after purchasing an additional 1,866 shares during the last quarter. Steel Grove Capital Advisors LLC increased its stake in shares of Interpublic Group of Companies by 444.8% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 64,002 shares of the business services provider’s stock valued at $1,738,000 after purchasing an additional 52,254 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Interpublic Group of Companies by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider’s stock worth $1,185,000 after buying an additional 1,170 shares during the last quarter. Finally, LifeWealth Investments LLC acquired a new stake in Interpublic Group of Companies in the first quarter valued at about $280,000. Institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IPG shares. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $32.00 to $36.00 in a research note on Friday, January 24th. StockNews.com started coverage on shares of Interpublic Group of Companies in a report on Friday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. Finally, Citigroup reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.67.

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.