Miller Howard Investments Inc. NY Reduces Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Miller Howard Investments Inc. NY trimmed its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,841,657 shares of the business services provider's stock after selling 34,289 shares during the quarter. Interpublic Group of Companies accounts for 2.1% of Miller Howard Investments Inc. NY's portfolio, making the stock its 14th largest position. Miller Howard Investments Inc. NY owned about 0.48% of Interpublic Group of Companies worth $60,112,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Interpublic Group of Companies by 2.3% during the first quarter. Vanguard Group Inc. now owns 47,707,617 shares of the business services provider's stock valued at $1,691,233,000 after acquiring an additional 1,075,059 shares in the last quarter. State Street Corp raised its position in Interpublic Group of Companies by 1.1% during the third quarter. State Street Corp now owns 21,132,312 shares of the business services provider's stock valued at $540,987,000 after acquiring an additional 226,086 shares in the last quarter. Black Creek Investment Management Inc. raised its position in Interpublic Group of Companies by 14.1% during the third quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider's stock valued at $278,649,000 after acquiring an additional 1,204,630 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Interpublic Group of Companies by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,291,211 shares of the business services provider's stock valued at $266,286,000 after purchasing an additional 167,810 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Interpublic Group of Companies by 1.6% in the first quarter. Geode Capital Management LLC now owns 8,428,989 shares of the business services provider's stock valued at $314,227,000 after purchasing an additional 133,527 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IPG shares. Wells Fargo & Company lifted their price target on shares of Interpublic Group of Companies from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, February 9th. JPMorgan Chase & Co. dropped their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Friday, February 9th. Barclays raised their price objective on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Monday, January 29th. Finally, UBS Group began coverage on shares of Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a "neutral" rating and a $36.00 price objective on the stock. Five investment 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 currently has an average rating of "Hold" and a consensus target price of $35.25.

Insider Activity

In other news, CAO Christopher F. Carroll sold 18,382 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the sale, the chief accounting officer now owns 42,390 shares in the company, valued at approximately $1,364,958. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Ellen Tobi Johnson sold 40,393 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $1,300,654.60. Following the completion of the transaction, the chief financial officer now directly owns 88,350 shares of the company's stock, valued at $2,844,870. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher F. Carroll sold 18,382 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $591,900.40. Following the sale, the chief accounting officer now directly owns 42,390 shares of the company's stock, valued at $1,364,958. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,646 shares of company stock worth $8,038,601. Corporate insiders own 0.35% of the company's stock.

Interpublic Group of Companies Stock Performance

IPG traded up $0.28 during trading on Tuesday, reaching $31.75. 2,874,970 shares of the company's stock were exchanged, compared to its average volume of 4,138,557. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $40.95. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $32.33 and a 200 day moving average price of $31.19. The company has a market capitalization of $12.02 billion, a P/E ratio of 11.14, a PEG ratio of 2.16 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.02. Interpublic Group of Companies had a net margin of 10.09% and a return on equity of 30.52%. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the company earned $1.02 earnings per share. The business's revenue was up 1.4% compared to the same quarter last year. As a group, analysts predict that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Thursday, February 29th. This is an increase from Interpublic Group of Companies's previous quarterly dividend of $0.31. Interpublic Group of Companies's payout ratio is currently 46.32%.

About Interpublic Group of Companies

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.