Silvercrest Asset Management Group LLC Sells 1,509,440 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Silvercrest Asset Management Group LLC lowered its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 98.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,098 shares of the business services provider’s stock after selling 1,509,440 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Interpublic Group of Companies were worth $871,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Prosperity Consulting Group LLC grew its position in Interpublic Group of Companies by 2.3% during the fourth quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider’s stock worth $595,000 after buying an additional 470 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after purchasing an additional 480 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after purchasing an additional 573 shares in the last quarter. Xponance Inc. increased its position in shares of Interpublic Group of Companies by 1.0% in the fourth quarter. Xponance Inc. now owns 59,844 shares of the business services provider’s stock worth $1,677,000 after purchasing an additional 587 shares during the period. Finally, Proactive Wealth Strategies LLC raised its stake in Interpublic Group of Companies by 5.8% in the fourth quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock valued at $311,000 after purchasing an additional 607 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IPG has been the topic of several recent analyst reports. UBS Group raised shares of Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $27.00 in a report on Thursday, February 13th. Citigroup reissued a “buy” rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. StockNews.com initiated coverage on Interpublic Group of Companies in a research note on Tuesday. They set a “hold” rating for the company. Argus downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Barclays lowered their price target on 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.44.

Interpublic Group of Companies Trading Down 1.1%

NYSE IPG opened at $25.19 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The company has a market cap of $9.31 billion, a price-to-earnings ratio of 13.77 and a beta of 1.09. The business’s fifty day moving average is $25.13 and its 200 day moving average is $27.27.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. As a group, sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $155.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 143,373 shares of the company’s stock, valued at $3,845,263.86. The trade was a 13.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is owned by company insiders.

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.