ProVise Management Group LLC Sells 9,000 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

ProVise Management Group LLC lessened its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 49.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,350 shares of the business services provider’s stock after selling 9,000 shares during the period. ProVise Management Group LLC’s holdings in Interpublic Group of Companies were worth $262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Xponance Inc. increased its position 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 buying an additional 587 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in Interpublic Group of Companies during the 4th quarter valued at approximately $1,496,000. Advisors Asset Management Inc. increased its position in Interpublic Group of Companies by 14.2% during the 4th quarter. Advisors Asset Management Inc. now owns 486,812 shares of the business services provider’s stock valued at $13,640,000 after buying an additional 60,463 shares in the last quarter. Birnam Oak Advisors LP bought a new position in Interpublic Group of Companies during the 4th quarter valued at approximately $7,180,000. Finally, Cibc World Markets Corp increased its position in Interpublic Group of Companies by 1.4% during the 4th quarter. Cibc World Markets Corp now owns 301,789 shares of the business services provider’s stock valued at $8,456,000 after buying an additional 4,185 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Insider Buying and Selling 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 dated Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the sale, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $26.66 on Thursday. The company has a market capitalization of $9.94 billion, a PE ratio of 14.57 and a beta of 1.14. 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’s fifty day moving average is $27.55 and its 200 day moving average is $29.18. The Interpublic Group of Companies, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $33.29.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

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

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.33 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.95%. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Analysts Set New Price Targets

Several analysts have commented on IPG shares. Barclays upgraded Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $32.00 to $36.00 in a research note on Friday, January 24th. Argus downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price target 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 Monday. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $39.00 in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus target price 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.