Brandywine Global Investment Management LLC Sells 22,583 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Brandywine Global Investment Management LLC reduced its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 770,322 shares of the business services provider’s stock after selling 22,583 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Interpublic Group of Companies were worth $21,584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allworth Financial LP increased its stake in Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after buying an additional 480 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Interpublic Group of Companies in the fourth quarter valued at about $36,000. Wilmington Savings Fund Society FSB bought a new stake in Interpublic Group of Companies during the third quarter worth about $107,000. Virtu Financial LLC bought a new position in Interpublic Group of Companies in the third quarter valued at approximately $206,000. Finally, Quarry LP increased its position in shares of Interpublic Group of Companies by 72.9% during the 3rd quarter. Quarry LP now owns 6,529 shares of the business services provider’s stock worth $207,000 after purchasing an additional 2,752 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Trading Down 0.4 %

Shares of Interpublic Group of Companies stock opened at $26.29 on Monday. The Interpublic Group of Companies, Inc. has a 52-week low of $25.85 and a 52-week high of $33.05. The stock has a market cap of $9.80 billion, a PE ratio of 14.37 and a beta of 1.14. The firm has a 50-day moving average of $27.40 and a 200-day moving average of $28.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last announced its 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 return on equity of 27.10% and a net margin of 6.45%. As a group, sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies declared that its Board of Directors has initiated a share repurchase plan 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 plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 5.02%. Interpublic Group of Companies’s dividend payout ratio is presently 72.13%.

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 $3,845,263.86. This represents a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IPG. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their target price for the company from $32.00 to $39.00 in a research note on Monday, January 27th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Tuesday, March 25th. They issued a “hold” rating for the company. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Finally, Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.50.

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.