M&T Bank Corp Sells 27,284 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

M&T Bank Corp trimmed its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 20.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,849 shares of the business services provider’s stock after selling 27,284 shares during the period. M&T Bank Corp’s holdings in Interpublic Group of Companies were worth $3,422,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Interpublic Group of Companies during the fourth quarter valued at about $29,000. Tobam boosted its holdings in Interpublic Group of Companies by 2,340.0% in the fourth quarter. Tobam now owns 1,098 shares of the business services provider’s stock worth $36,000 after acquiring an additional 1,053 shares in the last quarter. Authentikos Wealth Advisory LLC acquired a new stake in Interpublic Group of Companies in the third quarter valued at approximately $33,000. MCF Advisors LLC bought a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at approximately $43,000. Finally, First Command Advisory Services Inc. acquired a new stake in Interpublic Group of Companies in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $30.96 on Wednesday. The business’s fifty day moving average is $31.66 and its 200 day moving average is $31.48. The firm has a market cap of $11.68 billion, a price-to-earnings 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 quick ratio of 1.06 and a current ratio of 1.06. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $0.38 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. Research analysts predict that The Interpublic Group of Companies, Inc. will post 2.78 EPS 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. Stockholders of record on Friday, March 1st were given a dividend of $0.33 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.32 annualized dividend and a dividend yield of 4.26%. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.31. Interpublic Group of Companies’s dividend payout ratio (DPR) is 46.98%.

Insider Transactions at Interpublic Group of Companies

In related news, CEO Philippe Krakowsky sold 150,403 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 $4,842,976.60. Following the completion of the sale, the chief executive officer now owns 415,776 shares in the company, valued at approximately $13,387,987.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Ellen Tobi Johnson sold 40,393 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 value of $1,300,654.60. Following the transaction, the chief financial officer now owns 88,350 shares in the company, valued at $2,844,870. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Philippe Krakowsky sold 150,403 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 value 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. In the last ninety days, insiders sold 249,646 shares of company stock valued at $8,038,601. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IPG shares. Wells Fargo & Company cut their target price on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Barclays upped their target price on Interpublic Group of Companies from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. UBS Group began coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price objective for the company. Finally, 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 on the stock in a report on Friday, February 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.13.

About Interpublic Group of Companies

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.