Russell Investments Group Ltd. Trims Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Posted by Defense World Staff on May 12th, 2023

Russell Investments Group Ltd. lowered its position in The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 25.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,309 shares of the business services provider’s stock after selling 122,172 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Interpublic Group of Companies worth $12,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Shell Asset Management Co. grew its holdings in shares of Interpublic Group of Companies by 16.9% in the fourth quarter. Shell Asset Management Co. now owns 49,494 shares of the business services provider’s stock worth $1,649,000 after purchasing an additional 7,147 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of Interpublic Group of Companies by 9.9% in the fourth quarter. AE Wealth Management LLC now owns 540,526 shares of the business services provider’s stock worth $18,005,000 after purchasing an additional 48,689 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth about $546,000. Moloney Securities Asset Management LLC bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth about $650,000. Finally, US Bancorp DE grew its holdings in shares of Interpublic Group of Companies by 1.4% in the third quarter. US Bancorp DE now owns 29,090 shares of the business services provider’s stock worth $744,000 after purchasing an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 96.75% of the company’s stock.

Insider Activity at Interpublic Group of Companies

In related news, CAO Christopher F. Carroll sold 16,507 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were 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 directly owns 55,406 shares of the company’s stock, valued at approximately $1,969,129.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 16,507 shares of the firm’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 transaction, the chief accounting officer now directly owns 55,406 shares of the company’s stock, valued at approximately $1,969,129.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ellen Tobi Johnson sold 30,437 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $35.56, for a total transaction of $1,082,339.72. Following the transaction, the chief financial officer now directly owns 133,533 shares of the company’s stock, valued at $4,748,433.48. The disclosure for this sale can be found here. Insiders sold 91,779 shares of company stock valued at $3,250,936 in the last three months. 0.33% of the stock is owned by insiders.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $36.26 on Friday. The firm has a market capitalization of $14.00 billion, a P/E ratio of 15.70, a PEG ratio of 1.59 and a beta of 1.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average price of $35.93 and a 200 day moving average price of $34.80. The Interpublic Group of Companies, Inc. has a 52 week low of $25.14 and a 52 week high of $39.52.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The business services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.31 by $0.07. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.19 billion. Interpublic Group of Companies had a net margin of 8.31% and a return on equity of 29.28%. Interpublic Group of Companies’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.47 EPS. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.9 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. BNP Paribas cut shares of Interpublic Group of Companies from an “outperform” rating to a “neutral” rating and set a $40.00 target price on the stock. in a report on Wednesday, March 29th. Citigroup increased their target price on shares of Interpublic Group of Companies from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, February 14th. Bank of America upgraded shares of Interpublic Group of Companies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $38.00 to $40.00 in a report on Thursday, March 30th. Barclays dropped their target price on shares of Interpublic Group of Companies from $42.00 to $40.00 in a report on Friday, April 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Interpublic Group of Companies from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.50.

About Interpublic Group of Companies

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Interpublic Group of Cos., Inc engages in the provision of marketing, communications, and business transformation services. It operates through the following segments: Media, Data, and Engagement Solutions, Integrated Advertising and Creativity Led Solutions, and Specialized Communications and Experiential Solutions.