Interpublic Group of Companies (NYSE:IPG) Given New $31.00 Price Target at Wells Fargo & Company

Interpublic Group of Companies (NYSE:IPG) had its price target cut by Wells Fargo & Company from $32.00 to $31.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

A number of other brokerages have also weighed in on IPG. Barclays boosted their price objective on Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an equal weight rating in a research report on Monday, January 29th. UBS Group began coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They set a neutral rating and a $36.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Interpublic Group of Companies from $38.00 to $37.00 and set an overweight rating on the stock in a research note on Friday, February 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies has a consensus rating of Hold and an average price target of $35.13.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG traded up $0.24 during trading on Thursday, reaching $31.40. The company had a trading volume of 1,125,377 shares, compared to its average volume of 4,047,438. Interpublic Group of Companies has a 52 week low of $27.20 and a 52 week high of $40.95. The stock has a market cap of $11.85 billion, a PE ratio of 11.09, a PEG ratio of 2.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50 day moving average price is $31.91 and its 200-day moving average price is $31.35.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.18 billion. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.80%. Interpublic Group of Companies’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. Analysts expect that Interpublic Group of Companies will post 2.77 earnings per share for the current year.

Interpublic Group of Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.33 per share. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, February 29th. This represents a $1.32 dividend on an annualized basis and a yield of 4.20%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Insider Buying and Selling at Interpublic Group of Companies

In related news, CEO Philippe Krakowsky sold 150,403 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $4,842,976.60. Following the completion of the transaction, the chief executive officer now directly owns 415,776 shares in the company, valued at approximately $13,387,987.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Interpublic Group of Companies news, EVP Andrew Bonzani sold 40,468 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $1,303,069.60. Following the completion of the sale, the executive vice president now owns 70,431 shares of the company’s stock, valued at approximately $2,267,878.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Philippe Krakowsky sold 150,403 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the completion of the sale, the chief executive officer now directly owns 415,776 shares of the company’s stock, valued at approximately $13,387,987.20. The disclosure for this sale can be found here. Insiders have sold 249,646 shares of company stock worth $8,038,601 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IPG. IFP Advisors Inc lifted its stake in Interpublic Group of Companies by 49.2% in the 3rd quarter. IFP Advisors Inc now owns 7,911 shares of the business services provider’s stock worth $227,000 after purchasing an additional 2,609 shares in the last quarter. Czech National Bank raised its position in shares of Interpublic Group of Companies by 47.2% during the 3rd quarter. Czech National Bank now owns 67,278 shares of the business services provider’s stock valued at $1,928,000 after buying an additional 21,579 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Interpublic Group of Companies by 2.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 179,907 shares of the business services provider’s stock valued at $5,156,000 after buying an additional 4,892 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Interpublic Group of Companies by 7.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 118,987 shares of the business services provider’s stock valued at $3,409,000 after purchasing an additional 8,200 shares during the last quarter. Finally, HGK Asset Management Inc. grew its holdings in Interpublic Group of Companies by 46.0% during the 3rd quarter. HGK Asset Management Inc. now owns 170,637 shares of the business services provider’s stock valued at $4,890,000 after purchasing an additional 53,775 shares during the last quarter. Institutional investors own 98.43% 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.