The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by UBS Asset Management Americas Inc.

Posted by Defense World Staff on Mar 13th, 2023

UBS Asset Management Americas Inc. lessened its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,088,839 shares of the business services provider’s stock after selling 129,881 shares during the period. UBS Asset Management Americas Inc. owned 0.54% of Interpublic Group of Companies worth $53,474,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Interpublic Group of Companies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 49,222,062 shares of the business services provider’s stock worth $1,260,085,000 after acquiring an additional 302,083 shares during the last quarter. Putnam Investments LLC lifted its position in shares of Interpublic Group of Companies by 10.7% during the 3rd quarter. Putnam Investments LLC now owns 126,524 shares of the business services provider’s stock worth $3,239,000 after purchasing an additional 12,189 shares during the last quarter. Pearl River Capital LLC raised its stake in Interpublic Group of Companies by 31.7% during the 3rd quarter. Pearl River Capital LLC now owns 48,169 shares of the business services provider’s stock worth $1,233,000 after acquiring an additional 11,591 shares in the last quarter. Quadrature Capital Ltd raised its stake in Interpublic Group of Companies by 153.8% during the 3rd quarter. Quadrature Capital Ltd now owns 25,017 shares of the business services provider’s stock worth $641,000 after acquiring an additional 15,161 shares in the last quarter. Finally, Lido Advisors LLC acquired a new position in Interpublic Group of Companies in the third quarter valued at $221,000. Hedge funds and other institutional investors own 96.75% of the company’s stock.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $33.77 on Monday. The firm’s fifty day moving average price is $36.24 and its two-hundred day moving average price is $32.18. The stock has a market cap of $13.01 billion, a PE ratio of 14.19, a PEG ratio of 2.61 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a fifty-two week low of $25.14 and a fifty-two week high of $39.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.03.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last issued its quarterly earnings data on Thursday, February 9th. The business services provider reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.55 billion. Interpublic Group of Companies had a net margin of 8.58% and a return on equity of 30.58%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. On average, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.67%. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, February 28th. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 52.10%.

Insider Activity at Interpublic Group of Companies

In related news, CAO Christopher F. Carroll sold 16,507 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $35.54, for a total transaction of $586,658.78. Following the completion of the sale, the chief accounting officer now directly owns 55,406 shares in the company, valued at $1,969,129.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Andrew Bonzani sold 38,885 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $35.61, for a total transaction of $1,384,694.85. Following the transaction, the executive vice president now owns 111,769 shares of the company’s stock, valued at approximately $3,980,094.09. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Christopher F. Carroll sold 16,507 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $35.54, for a total transaction of $586,658.78. Following the sale, 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. Insiders sold a total of 85,829 shares of company stock valued at $3,053,693 in the last three months. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IPG. JPMorgan Chase & Co. boosted their price target on shares of Interpublic Group of Companies from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, January 23rd. Moffett Nathanson downgraded shares of Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and upped their price target for the company from $36.00 to $37.00 in a report on Friday, February 10th. Morgan Stanley upped their price objective on shares of Interpublic Group of Companies from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, February 6th. Wells Fargo & Company upped their price objective on shares of 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. Finally, Bank of America raised shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $22.00 to $36.00 in a research report on Thursday, January 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.25.

Interpublic Group of Companies Profile

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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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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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