Mission Wealth Management LP Cuts Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Mission Wealth Management LP decreased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,942 shares of the business services provider’s stock after selling 6,031 shares during the quarter. Mission Wealth Management LP’s holdings in Interpublic Group of Companies were worth $503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Empirical Finance LLC grew its holdings in shares of Interpublic Group of Companies by 1.3% during the third quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 409 shares in the last quarter. West Oak Capital LLC grew its holdings in shares of Interpublic Group of Companies by 0.8% during the fourth quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider’s stock worth $1,558,000 after purchasing an additional 435 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Interpublic Group of Companies by 75.8% during 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. Proactive Wealth Strategies LLC grew its holdings in shares of Interpublic Group of Companies by 5.8% during the fourth quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock worth $311,000 after purchasing an additional 607 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Interpublic Group of Companies by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 148,951 shares of the business services provider’s stock worth $4,711,000 after purchasing an additional 622 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $27.18 on Thursday. The firm has a market cap of $10.13 billion, a PE ratio of 14.85 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a fifty-two week low of $26.15 and a fifty-two week high of $35.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50 day moving average price of $27.76 and a 200-day moving average price of $29.53.

Interpublic Group of Companies (NYSE:IPG) last announced its 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 net margin of 6.45% and a return on equity of 27.10%. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.86%. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Interpublic Group of Companies declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $155.00 million in shares. This buyback authorization permits the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently commented on IPG. Argus lowered Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. StockNews.com began coverage on Interpublic Group of Companies in a research note on Saturday, March 1st. They issued a “hold” rating for the company. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. Finally, BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.50.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the transaction, the chief financial officer now owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.42% of the stock is owned by corporate insiders.

Interpublic Group of Companies Company Profile

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.