Mary Guilfoile, principal of the Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating), sold 6,301 shares in a trade dated Friday, May 6. The stock was sold at an average price of $32.41, for a total transaction of $204,215.41. Following the transaction, the administrator now directly owns 102,803 shares of the company, valued at approximately $3,331,845.23. The transaction was disclosed in a filing with the SEC, which is available via this link.
NYSE:IPG opened at $32.78 on Friday. The company has a debt ratio of 0.82, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $12.90 billion, a price-to-earnings ratio of 12.80, a growth price-to-earnings ratio of 2.88, and a beta of 0.99. The Interpublic Group of Companies, Inc. has a 52-week low of $30.45 and a 52-week high of $39.98. The company has a 50-day moving average price of $34.78 and a two-hundred-day moving average price of $35.74.
Interpublic Group of Companies (NYSE:IPG – Get Rating) last released its quarterly results on Thursday, April 28. The business services provider reported earnings per share (EPS) of $0.47 for the quarter, beating the consensus estimate of $0.40 by $0.07. Interpublic Group of Companies achieved a net margin of 9.67% and a return on equity of 31.10%. The company posted revenue of $2.23 billion in the quarter, versus analyst estimates of $2.17 billion. In the same quarter last year, the company posted EPS of $0.45. Interpublic Group of Companies quarterly revenue increased 9.8% over the same quarter last year. As a group, sell-side analysts expect The Interpublic Group of Companies, Inc. to post earnings per share of 2.72 for the current year.
Interpublic Group of Companies announced that its board of directors launched a stock repurchase program on Thursday, February 10 that authorizes the company to repurchase $400.00 million in stock. This repurchase authorization authorizes the business services provider to repurchase up to 2.8% of its shares through purchases on the open market. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15. Shareholders of record on Tuesday, March 1 received a dividend of $0.29 per share. The ex-dividend date was Monday, February 28. This represents an annualized dividend of $1.16 and a dividend yield of 3.54%. This is a positive change from Interpublic Group of Companies’ previous quarterly dividend of $0.27. The Interpublic Group of Companies’ dividend payout ratio (DPR) is currently 45.31%.
Several hedge funds have recently changed their holdings to IPG. Morgan Stanley increased its stake in the shares of Interpublic Group of Companies by 3.0% during the second quarter. Morgan Stanley now owns 1,734,873 shares of the business services provider worth $56,367,000 after buying an additional 50,461 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Interpublic Group of Companies by 5.5% in Q3. Commonwealth Equity Services LLC now owns 24,325 shares of the business services provider valued at $892,000 after purchasing an additional 1,269 shares during the period. Van ECK Associates Corp increased its holdings in Interpublic Group of Companies by 26.8% in the third quarter. Van ECK Associates Corp now owns 8,106 shares of the business services provider valued at $297,000 after buying an additional 1,715 shares during the period. Advisor Group Holdings Inc. increased its stake in Interpublic Group of Companies by 140.2% in Q3. Advisor Group Holdings Inc. now owns 175,812 shares of the business services provider valued at $6,451,000 after purchasing an additional 102,608 shares during the period. Finally, Truist Financial Corp increased its stake in Interpublic Group of Companies by 6.6% in the third quarter. Truist Financial Corp now owns 147,152 shares of the business services provider valued at $5,396,000 after purchasing an additional 9,097 shares during the period. Institutional investors hold 99.68% of the company’s shares.
IPG has been the subject of a number of research analyst reports. Morgan Stanley raised its price target on shares of Interpublic Group of Companies from $38.00 to $40.00 and gave the stock an “equal weight” rating in a Friday, Feb. 11 research report . StockNews.com assumed coverage of Interpublic Group of Companies stocks in a Thursday, March 31 report. They issued a “holding” rating on the stock. Argus upgraded shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a target price of $41.00 on the stock in a Monday, March 21 report. Barclays downgraded shares of Interpublic Group of Companies from an ‘overweight’ rating to an ‘equally weighted’ rating and lowered its target price for the stock from $47.00 to $42.00 in a Monday report March 14. Finally, Bank of America downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperforming” rating and set a target price of $32.00 for the stock. in a report on Thursday, January 27. One analyst gave the stock a sell rating, five gave the company a hold rating and five gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.90.
Company Profile Interpublic Group of Companies (Get a rating)
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The Company offers consumer advertising, digital marketing, communications planning and media buying, public relations and specialty communications, and data science services.
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