Interpublic Group of Companies (NYSE:IPG) Hits New 12-Month Low – Here’s Why

The Interpublic Group of Companies, Inc. (NYSE:IPG)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $25.97 and last traded at $26.12, with a volume of 2789532 shares trading hands. The stock had previously closed at $26.35.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IPG. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Argus cut Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. UBS Group upgraded 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 report on Thursday, February 13th. JPMorgan Chase & Co. upgraded Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $39.00 in a report on Monday, January 27th. Finally, BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.50.

Interpublic Group of Companies Trading Down 0.9 %

The business has a 50 day moving average of $27.70 and a 200 day moving average of $29.39. 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 market capitalization of $9.73 billion, a price-to-earnings ratio of 14.27 and a beta of 1.14.

Interpublic Group of Companies (NYSE:IPG) last issued its 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 net margin of 6.45% and a return on equity of 27.10%. As a group, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business 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 5.06%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s payout ratio is currently 72.13%.

Interpublic Group of Companies announced that its board has initiated a stock buyback 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total value of $574,672.14. Following the completion of the transaction, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at approximately $3,845,263.86. This trade represents a 13.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On Interpublic Group of Companies

Institutional investors and hedge funds have recently modified their holdings of the company. Empirical Finance LLC grew its holdings in Interpublic Group of Companies by 1.3% in the third quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 409 shares during the period. West Oak Capital LLC boosted its position in shares of Interpublic Group of Companies by 0.8% during the 4th quarter. West Oak Capital LLC now owns 55,595 shares of the business services provider’s stock worth $1,558,000 after purchasing an additional 435 shares in the last quarter. Prosperity Consulting Group LLC grew its stake in shares of Interpublic Group of Companies by 2.3% in the 4th quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider’s stock valued at $595,000 after buying an additional 470 shares during the period. Allworth Financial LP increased its position 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 in the last quarter. Finally, GeoWealth Management LLC raised its stake in Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after buying an additional 573 shares during the period. 98.43% of the stock is owned by institutional investors.

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.