AQR Capital Management LLC Sells 124,646 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

AQR Capital Management LLC reduced its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 45.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,803 shares of the business services provider's stock after selling 124,646 shares during the period. AQR Capital Management LLC's holdings in Interpublic Group of Companies were worth $4,197,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP increased 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 valued at $31,000 after purchasing an additional 480 shares during the period. OFI Invest Asset Management bought a new position in Interpublic Group of Companies during the fourth quarter valued at approximately $36,000. GeoWealth Management LLC raised its position in shares of Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock valued at $94,000 after purchasing an additional 573 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Interpublic Group of Companies in the 3rd quarter valued at $107,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at approximately $141,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG traded down $0.03 during trading on Tuesday, reaching $25.62. The company had a trading volume of 3,413,056 shares, compared to its average volume of 5,164,617. The stock has a market capitalization of $9.47 billion, a P/E ratio of 14.00 and a beta of 1.09. The company has a fifty day moving average of $25.36 and a two-hundred day moving average of $27.44. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05.

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

Interpublic Group of Companies declared that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $155.00 million in shares. This repurchase authorization allows the business services provider to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Monday, March 3rd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 100.76%.

Insider Buying and Selling at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies 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 owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on IPG. Barclays decreased 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. UBS Group raised shares of Interpublic Group of Companies from a "sell" rating to a "neutral" rating and decreased their price target for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Citigroup reaffirmed a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. StockNews.com started coverage on Interpublic Group of Companies in a report on Monday. They set a "hold" rating for the company. Finally, Argus downgraded Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.