Strs Ohio Sells 364,941 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Strs Ohio lowered its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 68.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,648 shares of the business services provider’s stock after selling 364,941 shares during the quarter. Strs Ohio’s holdings in Interpublic Group of Companies were worth $5,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Wealth Management LLC bought a new position in shares of Interpublic Group of Companies during the 4th quarter valued at $25,000. Clear Street Markets LLC raised its holdings in shares of Interpublic Group of Companies by 94.9% during the 1st quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 372 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Interpublic Group of Companies during the 4th quarter valued at $29,000. Resurgent Financial Advisors LLC bought a new position in shares of Interpublic Group of Companies during the 4th quarter valued at $34,000. Finally, First Manhattan CO. LLC. raised its holdings in shares of Interpublic Group of Companies by 1,176.5% during the 1st quarter. First Manhattan CO. LLC. now owns 1,085 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Insider Activity

In other news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares in the company, valued at approximately $1,364,958. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares in the company, valued at approximately $1,364,958. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ellen Tobi Johnson sold 40,393 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the sale, the chief financial officer now owns 88,350 shares in the company, valued at $2,844,870. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,646 shares of company stock worth $8,038,601. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on IPG. JPMorgan Chase & Co. cut their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Barclays raised their target price 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. Wells Fargo & Company raised their target price 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. Finally, UBS Group initiated 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 target price on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Interpublic Group of Companies presently has an average rating of “Hold” and an average price target of $35.25.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $30.39 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 2.08 and a beta of 1.13. The company’s fifty day moving average is $31.98 and its two-hundred day moving average is $31.26. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.02. The company 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 quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the business posted $1.02 EPS. Equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.34%. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, February 29th. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 46.32%.

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.