River Road Asset Management LLC Reduces Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

River Road Asset Management LLC lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 37.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,176 shares of the business services provider’s stock after selling 97,839 shares during the quarter. River Road Asset Management LLC’s holdings in Interpublic Group of Companies were worth $4,600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IPG. Allworth Financial LP increased its stake in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 480 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Interpublic Group of Companies in the 3rd quarter valued at $32,000. OFI Invest Asset Management purchased a new stake in Interpublic Group of Companies in the fourth quarter valued at $36,000. Brooklyn Investment Group acquired a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at about $60,000. Finally, Transamerica Financial Advisors Inc. lifted its holdings in Interpublic Group of Companies by 243,700.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 2,437 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 2.9 %

Interpublic Group of Companies stock opened at $27.36 on Wednesday. The stock’s fifty day simple moving average is $27.74 and its 200-day simple moving average is $29.41. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a twelve month low of $26.15 and a twelve month high of $35.17. The firm has a market capitalization of $10.20 billion, a P/E ratio of 14.95 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. As a group, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies announced that its board has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $155.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Insiders Place Their Bets

In other 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 transaction, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. This represents a 13.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $36.00 in a report on Friday, January 24th. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Friday, January 10th. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies 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.