The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 35.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,782 shares of the business services provider's stock after selling 123,552 shares during the quarter. Gotham Asset Management LLC owned approximately 0.06% of Interpublic Group of Companies worth $6,214,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in shares of Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after buying an additional 480 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter worth about $36,000. GeoWealth Management LLC grew its holdings in shares of Interpublic Group of Companies by 20.7% during the fourth 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 in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter worth about $102,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Interpublic Group of Companies during the fourth quarter worth about $141,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

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 on Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the transaction, the chief financial officer now directly owns 143,373 shares of the company's stock, 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 available at this hyperlink. Corporate insiders own 0.42% of the company's stock.

Interpublic Group of Companies Trading Up 1.2%

IPG stock traded up $0.30 during midday trading on Friday, reaching $25.48. 2,514,009 shares of the company's stock traded hands, compared to its average volume of 5,178,719. The company has a market capitalization of $9.42 billion, a P/E ratio of 13.92 and a beta of 1.09. 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 Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The business has a 50-day moving average price of $25.16 and a two-hundred day moving average price of $27.35.

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

Interpublic Group of Companies declared that its board has approved a share repurchase program 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on IPG. Barclays lowered their price target on shares of 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. Citigroup reiterated a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $32.00 to $39.00 in a report on Monday, January 27th. Argus downgraded shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, StockNews.com initiated coverage on shares of Interpublic Group of Companies in a report on Monday, May 12th. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of "Hold" and a consensus target price of $33.44.

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.