The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 55.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,439 shares of the business services provider's stock after selling 86,038 shares during the quarter. Mackenzie Financial Corp's holdings in Interpublic Group of Companies were worth $1,918,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IPG. Canada Pension Plan Investment Board increased its stake in shares of Interpublic Group of Companies by 139.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider's stock worth $370,157,000 after acquiring an additional 7,693,636 shares during the period. Amundi raised its stake in shares of Interpublic Group of Companies by 133.6% during the 4th quarter. Amundi now owns 5,402,201 shares of the business services provider's stock valued at $150,393,000 after buying an additional 3,089,387 shares during the last quarter. Magnetar Financial LLC raised its stake in shares of Interpublic Group of Companies by 12,548.6% during the 4th quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider's stock valued at $67,955,000 after buying an additional 2,406,073 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Interpublic Group of Companies in the 4th quarter valued at about $51,794,000. Finally, First Trust Advisors LP boosted its stake in shares of Interpublic Group of Companies by 13.0% in the fourth quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider's stock worth $363,584,000 after buying an additional 1,492,019 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IPG shares. UBS Group raised shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and cut their target price for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Wall Street Zen began coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating on the stock. Barclays reduced their price target on Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Argus lowered Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Citigroup restated a "buy" rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Interpublic Group of Companies has an average rating of "Hold" and a consensus price target of $33.44.

Interpublic Group of Companies Stock Performance

NYSE IPG traded down $0.10 during trading hours on Wednesday, hitting $22.96. The company had a trading volume of 4,570,492 shares, compared to its average volume of 5,454,109. The business has a 50 day moving average of $24.57 and a 200-day moving average of $26.86. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The company has a market cap of $8.49 billion, a PE ratio of 12.55 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The firm's quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. As a group, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $155.00 million in shares. This repurchase authorization allows 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 believes its shares are undervalued.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.33 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.32 annualized dividend and a yield of 5.75%. Interpublic Group of Companies's dividend payout ratio (DPR) is 100.76%.

Interpublic Group of Companies 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.