Lazard Asset Management LLC lessened its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 99.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,321 shares of the business services provider’s stock after selling 1,177,839 shares during the period. Lazard Asset Management LLC’s holdings in Interpublic Group of Companies were worth $289,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ten Capital Wealth Advisors LLC acquired a new position in Interpublic Group of Companies during the third quarter worth $31,000. Private Trust Co. NA acquired a new stake in Interpublic Group of Companies in the second quarter valued at $36,000. Ronald Blue Trust Inc. acquired a new stake in Interpublic Group of Companies in the second quarter valued at $41,000. Steward Partners Investment Advisory LLC grew its holdings in Interpublic Group of Companies by 47.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,775 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 569 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Interpublic Group of Companies in the third quarter valued at $76,000. Institutional investors and hedge funds own 96.75% of the company’s stock.
Interpublic Group of Companies Stock Performance
NYSE IPG opened at $35.70 on Friday. The business’s 50-day moving average price is $36.11 and its 200 day moving average price is $31.97. The Interpublic Group of Companies, Inc. has a twelve month low of $25.14 and a twelve month high of $39.52. The company has a market capitalization of $13.75 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 2.73 and a beta of 1.11. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.77.
Interpublic Group of Companies Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, February 28th. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 3.47%. Interpublic Group of Companies’s dividend payout ratio is 52.10%.
Insider Buying and Selling
In other news, EVP Andrew Bonzani sold 38,885 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $35.61, for a total value of $1,384,694.85. Following the transaction, the executive vice president now directly owns 111,769 shares in the company, valued at approximately $3,980,094.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Andrew Bonzani sold 38,885 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $35.61, for a total value of $1,384,694.85. Following the transaction, the executive vice president now directly owns 111,769 shares in the company, valued at approximately $3,980,094.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Christopher F. Carroll sold 16,507 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $35.54, for a total value of $586,658.78. Following the completion of the transaction, the chief accounting officer now owns 55,406 shares in the company, valued at $1,969,129.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,829 shares of company stock worth $3,053,693. 0.33% of the stock is owned by company insiders.
Analyst Ratings Changes
IPG has been the topic of several research reports. Bank of America raised Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and upped their target price for the company from $22.00 to $36.00 in a report on Thursday, January 5th. Citigroup upped their target price on Interpublic Group of Companies from $39.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. Morgan Stanley upped their target price on Interpublic Group of Companies from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, February 6th. JPMorgan Chase & Co. increased their price objective on Interpublic Group of Companies from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, January 23rd. Finally, Wells Fargo & Company increased their price objective on Interpublic Group of Companies from $36.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, February 9th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of “Moderate Buy” and an average price target of $39.25.
About Interpublic Group of Companies
Interpublic Group of Cos., Inc engages in the provision of advertising and marketing services. The firm specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates through the following segments: Integrated Agency Network (IAN), IPG DXTRA, and Corporate and Other.
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