Interpublic Group of Companies (NYSE:IPG) Hits New 1-Year Low – Here’s What Happened

The Interpublic Group of Companies, Inc. (NYSE:IPG) shares hit a new 52-week low on Wednesday . The stock traded as low as $25.85 and last traded at $26.59, with a volume of 8928740 shares changing hands. The stock had previously closed at $26.23.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IPG shares. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $36.00 in a research report on Friday, January 24th. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $26.00 to $34.00 in a research report on Tuesday, December 10th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Finally, BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Price Performance

The firm has a market cap of $9.85 billion, a PE ratio of 14.45 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50-day simple moving average of $27.53 and a 200 day simple moving average of $29.16.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (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%. As a group, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.99%. Interpublic Group of Companies’s payout ratio is currently 72.13%.

Interpublic Group of Companies announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes 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.

Insider Transactions at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 $3,845,263.86. The trade was a 13.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.42% of the company’s stock.

Institutional Trading of Interpublic Group of Companies

Several institutional investors have recently added to or reduced their stakes in IPG. Natixis Advisors LLC boosted its position in shares of Interpublic Group of Companies by 59.6% during the third quarter. Natixis Advisors LLC now owns 429,509 shares of the business services provider’s stock valued at $13,585,000 after buying an additional 160,323 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Interpublic Group of Companies by 418.7% during the 3rd quarter. Quest Partners LLC now owns 6,878 shares of the business services provider’s stock valued at $218,000 after acquiring an additional 5,552 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Interpublic Group of Companies in the third quarter worth approximately $294,000. Charles Schwab Investment Management Inc. grew its stake in shares of Interpublic Group of Companies by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock worth $393,064,000 after acquiring an additional 270,857 shares during the period. Finally, Raymond James Trust N.A. raised its holdings in shares of Interpublic Group of Companies by 13.0% during the third quarter. Raymond James Trust N.A. now owns 39,906 shares of the business services provider’s stock valued at $1,262,000 after purchasing an additional 4,601 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

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.