M&T Bank Corp Has $3.42 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

M&T Bank Corp cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 20.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 104,849 shares of the business services provider's stock after selling 27,284 shares during the quarter. M&T Bank Corp's holdings in Interpublic Group of Companies were worth $3,422,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new position in Interpublic Group of Companies in the 4th quarter valued at approximately $29,000. Authentikos Wealth Advisory LLC purchased a new position in Interpublic Group of Companies during the third quarter worth $33,000. Tobam increased its position in Interpublic Group of Companies by 2,340.0% during the fourth quarter. Tobam now owns 1,098 shares of the business services provider's stock worth $36,000 after buying an additional 1,053 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Interpublic Group of Companies during the third quarter worth $43,000. Finally, MCF Advisors LLC purchased a new position in Interpublic Group of Companies during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock remained flat at $30.96 during midday trading on Wednesday. The company had a trading volume of 4,291,353 shares, compared to its average volume of 3,998,658. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $40.95. The stock has a market capitalization of $11.69 billion, a PE ratio of 11.02, a PEG ratio of 2.24 and a beta of 1.13. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a fifty day moving average price of $31.65 and a 200-day moving average price of $31.48.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. Equities 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Thursday, February 29th. This is a boost from Interpublic Group of Companies's previous quarterly dividend of $0.31. Interpublic Group of Companies's payout ratio is currently 46.98%.

Insiders Place Their Bets

In other Interpublic Group of Companies news, 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 transaction of $591,900.40. Following 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 legal filing with the SEC, which is available at the SEC website. In other news, CAO Christopher F. Carroll sold 18,382 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 transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Bonzani sold 40,468 shares of the firm'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 $1,303,069.60. Following the sale, the executive vice president now owns 70,431 shares of the company's stock, valued at approximately $2,267,878.20. The disclosure for this sale can be found here. Insiders have sold a total of 249,646 shares of company stock worth $8,038,601 over the last quarter. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IPG. Barclays raised their price target 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. JPMorgan Chase & Co. lowered their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, February 9th. UBS Group began coverage on Interpublic Group of Companies in a research report on Thursday, January 11th. They issued a "neutral" rating and a $36.00 price objective for the company. Finally, Wells Fargo & Company lowered their price objective on Interpublic Group of Companies from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Interpublic Group of Companies has an average rating of "Hold" and an average price target of $35.13.

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.