Wells Fargo & Company Cuts Interpublic Group of Companies (NYSE:IPG) Price Target to $31.00

Interpublic Group of Companies (NYSE:IPG) had its price target cut by Wells Fargo & Company from $32.00 to $31.00 in a research note published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

A number of other equities research analysts have also issued reports on the company. UBS Group assumed coverage on Interpublic Group of Companies in a research report on Thursday, January 11th. They set a neutral rating and a $36.00 target price on the stock. JPMorgan Chase & Co. cut their target price on 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. Finally, Barclays upped their price target on Interpublic Group of Companies from $35.00 to $36.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $35.13.

Interpublic Group of Companies Stock Up 1.0 %

Shares of Interpublic Group of Companies stock opened at $31.47 on Thursday. The stock’s fifty day moving average is $31.89 and its 200-day moving average is $31.38. The firm has a market capitalization of $11.88 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 2.30 and a beta of 1.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. Interpublic Group of Companies has a 12-month low of $27.20 and a 12-month high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.18 billion. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. Interpublic Group of Companies’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. Equities analysts anticipate that Interpublic Group of Companies will post 2.78 earnings per share for the current year.

Interpublic Group of Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.19%. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, February 29th. Interpublic Group of Companies’s payout ratio is presently 46.98%.

Insider Activity at Interpublic Group of Companies

In related news, CFO Ellen Tobi Johnson sold 40,393 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 40,393 shares of the company’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 $1,300,654.60. Following the transaction, the chief financial officer now directly owns 88,350 shares of the company’s stock, valued at approximately $2,844,870. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Christopher F. Carroll sold 18,382 shares of the company’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 completion of the transaction, the chief accounting officer now directly owns 42,390 shares in the company, valued at $1,364,958. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 249,646 shares of company stock valued at $8,038,601. Company insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Interpublic Group of Companies by 85.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 229,511 shares of the business services provider’s stock worth $7,491,000 after purchasing an additional 105,858 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Interpublic Group of Companies by 30.9% during the 4th quarter. Vest Financial LLC now owns 392,769 shares of the business services provider’s stock valued at $12,820,000 after acquiring an additional 92,692 shares during the last quarter. abrdn plc increased its holdings in shares of Interpublic Group of Companies by 23.1% during the 4th quarter. abrdn plc now owns 488,980 shares of the business services provider’s stock valued at $15,960,000 after acquiring an additional 91,894 shares during the last quarter. New York Life Investment Management LLC increased its holdings in shares of Interpublic Group of Companies by 32.5% during the 3rd quarter. New York Life Investment Management LLC now owns 99,678 shares of the business services provider’s stock valued at $2,857,000 after acquiring an additional 24,459 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of Interpublic Group of Companies by 16.2% during the 3rd quarter. UBS Group AG now owns 338,048 shares of the business services provider’s stock valued at $9,688,000 after acquiring an additional 47,184 shares during the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

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.