Tidal Investments LLC Decreases Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Tidal Investments LLC decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 133,193 shares of the business services provider’s stock after selling 6,791 shares during the period. Tidal Investments LLC’s holdings in Interpublic Group of Companies were worth $3,732,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IPG. Prosperity Consulting Group LLC lifted its stake in Interpublic Group of Companies by 2.3% in the fourth quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider’s stock worth $595,000 after purchasing an additional 470 shares during the last quarter. Allworth Financial LP increased its holdings 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 buying an additional 480 shares during the period. GeoWealth Management LLC lifted its stake in shares of Interpublic Group of Companies by 20.7% in the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 573 shares during the last quarter. Xponance Inc. boosted its holdings in Interpublic Group of Companies by 1.0% during the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider’s stock valued at $1,677,000 after acquiring an additional 587 shares during the period. Finally, Proactive Wealth Strategies LLC boosted its holdings in Interpublic Group of Companies by 5.8% during the 4th quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock valued at $311,000 after acquiring an additional 607 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

IPG has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Tuesday. They issued a “hold” rating on the stock. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Citigroup reissued a “buy” rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Finally, UBS Group upgraded shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $29.00 to $27.00 in a research report on Thursday, February 13th. 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 stock. According to MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus target price of $33.44.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $25.19 on Wednesday. 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 firm’s fifty day simple moving average is $25.13 and its 200 day simple moving average is $27.27. The stock has a market cap of $9.31 billion, a P/E ratio of 13.77 and a beta of 1.09. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. As a group, research 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 authorized a share buyback program 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 programs are typically an indication that the company’s board 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 shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the transaction, the chief financial officer now directly owns 143,373 shares in the company, valued at $3,845,263.86. This trade represents a 13.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.

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.