The Interpublic Group of Companies, Inc. (NYSE:IPG) Stake Reduced by Gotham Asset Management LLC

Gotham Asset Management LLC decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 35.8% in the 4th quarter, HoldingsChannel reports. The firm owned 221,782 shares of the business services provider’s stock after selling 123,552 shares during the quarter. Gotham Asset Management LLC’s holdings in Interpublic Group of Companies were worth $6,214,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of 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 worth $31,000 after purchasing an additional 480 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth $36,000. GeoWealth Management LLC grew its stake in shares of Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after purchasing an additional 573 shares in the last quarter. Parvin Asset Management LLC bought a new position in Interpublic Group of Companies during the fourth quarter valued at about $102,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in Interpublic Group of Companies during the fourth quarter valued at about $141,000. Institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $32.00 to $39.00 in a research note on Monday, January 27th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. StockNews.com assumed coverage on Interpublic Group of Companies in a research note on Monday. They set a “hold” rating for the company. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Finally, Citigroup reaffirmed a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.44.

Interpublic Group of Companies Trading Down 0.1%

Shares of NYSE IPG opened at $25.62 on Wednesday. The Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 14.00 and a beta of 1.09. 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 business has a fifty day simple moving average of $25.33 and a 200-day simple moving average of $27.43.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business posted $0.36 earnings per share. Interpublic Group of Companies’s revenue was down 6.9% compared to the same quarter last year. Sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $155.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the 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 completion of the sale, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This represents a 13.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is currently owned by company insiders.

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.