The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,917 shares of the business services provider’s stock after selling 2,467 shares during the period. Mackenzie Financial Corp’s holdings in Interpublic Group of Companies were worth $2,870,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Black Creek Investment Management Inc. boosted its stake in shares of Interpublic Group of Companies by 14.1% during the 3rd quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock worth $278,649,000 after acquiring an additional 1,204,630 shares in the last quarter. American Century Companies Inc. grew its holdings in Interpublic Group of Companies by 24.6% in the third quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider’s stock valued at $132,852,000 after purchasing an additional 916,574 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Interpublic Group of Companies by 212.9% in the third quarter. Qube Research & Technologies Ltd now owns 827,224 shares of the business services provider’s stock valued at $23,708,000 after buying an additional 562,823 shares in the last quarter. Gradient Investments LLC raised its stake in shares of Interpublic Group of Companies by 1,439,200.0% during the 4th quarter. Gradient Investments LLC now owns 503,755 shares of the business services provider’s stock worth $16,443,000 after buying an additional 503,720 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of Interpublic Group of Companies during the 3rd quarter valued at approximately $14,408,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Insider Activity

In other news, CEO Philippe Krakowsky sold 150,403 shares of Interpublic Group of Companies stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the sale, the chief executive officer now owns 415,776 shares of the company’s stock, valued at approximately $13,387,987.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 18,382 shares of the stock in a transaction dated Tuesday, February 27th. The shares were 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 of the company’s stock, valued at $1,364,958. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Philippe Krakowsky sold 150,403 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the sale, the chief executive officer now owns 415,776 shares of the company’s stock, valued at $13,387,987.20. The disclosure for this sale can be found here. Insiders sold a total of 249,646 shares of company stock valued at $8,038,601 in the last 90 days. Company insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Price Performance

IPG stock opened at $31.03 on Tuesday. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $40.95. The firm has a market capitalization of $11.71 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.06 and a quick ratio of 1.06. The business has a 50 day simple moving average of $31.96 and a 200-day simple moving average of $31.34.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Thursday, February 8th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.02. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Interpublic Group of Companies had a return on equity of 30.52% and a net margin of 10.09%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 EPS. Equities research analysts anticipate 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. Shareholders of record on Friday, March 1st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.25%. 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 46.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of 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. Wells Fargo & Company raised 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 note on Friday, February 9th. UBS Group began coverage on Interpublic Group of Companies in a report on Thursday, January 11th. They set a “neutral” rating and a $36.00 target price for the company. Finally, Barclays lifted 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 note on Monday, January 29th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.25.

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.