Allspring Global Investments Holdings LLC Cuts Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Allspring Global Investments Holdings LLC cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,942 shares of the business services provider's stock after selling 132,025 shares during the period. Allspring Global Investments Holdings LLC's holdings in Interpublic Group of Companies were worth $977,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Authentikos Wealth Advisory LLC bought a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth $33,000. Ronald Blue Trust Inc. raised its stake in shares of Interpublic Group of Companies by 55.2% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,513 shares of the business services provider's stock worth $43,000 after purchasing an additional 538 shares during the period. First Command Advisory Services Inc. bought a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth $43,000. Blue Trust Inc. raised its stake in shares of Interpublic Group of Companies by 46.1% during the 4th quarter. Blue Trust Inc. now owns 2,210 shares of the business services provider's stock worth $72,000 after purchasing an additional 697 shares during the period. Finally, Larson Financial Group LLC purchased a new stake in Interpublic Group of Companies in the 3rd quarter worth about $75,000. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Price Performance

NYSE:IPG traded up $0.41 during mid-day trading on Wednesday, reaching $31.40. The stock had a trading volume of 5,283,647 shares, compared to its average volume of 4,069,171. The firm has a 50 day moving average price of $31.94 and a two-hundred day moving average price of $31.35. The stock has a market capitalization of $11.85 billion, a P/E ratio of 11.02, a P/E/G ratio of 2.13 and a beta of 1.13. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year high of $40.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.06 and a current ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its 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 company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.18 billion. Interpublic Group of Companies had a return on equity of 30.52% and a net margin of 10.09%. Interpublic Group of Companies's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, analysts expect that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 4.20%. This is an increase from Interpublic Group of Companies's previous quarterly dividend of $0.31. Interpublic Group of Companies's payout ratio is presently 46.32%.

Analysts Set New Price Targets

IPG has been the subject of several recent research reports. UBS Group initiated coverage on Interpublic Group of Companies in a report on Thursday, January 11th. They issued a "neutral" rating and a $36.00 price objective for the company. Wells Fargo & Company lifted their price objective on Interpublic Group of Companies from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, February 9th. Barclays lifted their price objective on Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $35.25.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 18,382 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $591,900.40. Following the completion of the sale, the chief accounting officer now owns 42,390 shares in the company, valued at $1,364,958. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Christopher F. Carroll sold 18,382 shares of the company's 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 $591,900.40. Following the completion of the transaction, the chief accounting officer now owns 42,390 shares in the company, valued at $1,364,958. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Philippe Krakowsky sold 150,403 shares of the company'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 transaction, the chief executive officer now 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. Over the last 90 days, insiders sold 249,646 shares of company stock worth $8,038,601. 0.42% of the stock is currently owned by insiders.

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.