M&T Bank Corp Has $2.27 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

M&T Bank Corp cut its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,175 shares of the business services provider’s stock after selling 10,882 shares during the quarter. M&T Bank Corp’s holdings in Interpublic Group of Companies were worth $2,274,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. raised its stake in shares of Interpublic Group of Companies by 3.0% during the 4th quarter. Assetmark Inc. now owns 42,496 shares of the business services provider’s stock worth $1,191,000 after purchasing an additional 1,238 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Interpublic Group of Companies by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider’s stock worth $362,538,000 after purchasing an additional 511,607 shares in the last quarter. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Interpublic Group of Companies during the 4th quarter worth about $260,000. Jones Financial Companies Lllp raised its stake in shares of Interpublic Group of Companies by 69.5% during the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider’s stock worth $204,000 after purchasing an additional 2,991 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in shares of Interpublic Group of Companies by 2,301.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 8,644 shares of the business services provider’s stock worth $242,000 after purchasing an additional 8,284 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised 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. JPMorgan Chase & Co. raised 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. StockNews.com started coverage on Interpublic Group of Companies in a research note on Sunday. They issued a “hold” rating on the stock. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Friday, January 10th. Finally, UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $27.00 in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.50.

Interpublic Group of Companies Stock Up 3.2 %

Shares of IPG stock opened at $28.20 on Monday. The Interpublic Group of Companies, Inc. has a 12 month low of $26.15 and a 12 month high of $35.17. The firm has a market cap of $10.51 billion, a PE ratio of 15.41 and a beta of 1.14. The stock has a 50 day moving average of $27.74 and a 200-day moving average of $29.47. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly 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 return on equity of 27.10% and a net margin of 6.45%. On average, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.68%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 72.13%.

Interpublic Group of Companies announced that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to buyback $155.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Interpublic Group of Companies

In other news, CFO Ellen Tobi Johnson sold 21,427 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

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.