Engineers Gate Manager LP Sells 75,635 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Engineers Gate Manager LP decreased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 80.6% during the third quarter, Holdings Channel reports. The fund owned 18,162 shares of the business services provider’s stock after selling 75,635 shares during the period. Engineers Gate Manager LP’s holdings in Interpublic Group of Companies were worth $465,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Dakota Wealth Management increased its position in shares of Interpublic Group of Companies by 4.2% during the 3rd quarter. Dakota Wealth Management now owns 8,114 shares of the business services provider’s stock valued at $207,000 after purchasing an additional 329 shares during the last quarter. Paradigm Financial Partners LLC raised its position in Interpublic Group of Companies by 1.5% in the third quarter. Paradigm Financial Partners LLC now owns 25,420 shares of the business services provider’s stock worth $685,000 after acquiring an additional 380 shares during the period. US Bancorp DE boosted its stake in shares of Interpublic Group of Companies by 1.4% during the 3rd quarter. US Bancorp DE now owns 29,090 shares of the business services provider’s stock worth $744,000 after acquiring an additional 401 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Interpublic Group of Companies by 2.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,294 shares of the business services provider’s stock worth $421,000 after purchasing an additional 410 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in Interpublic Group of Companies by 1.5% in the 3rd quarter. Fiera Capital Corp now owns 30,455 shares of the business services provider’s stock worth $780,000 after purchasing an additional 438 shares during the period. Institutional investors own 96.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on IPG. Bank of America raised Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $22.00 to $36.00 in a report on Thursday, January 5th. JPMorgan Chase & Co. upped 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 report on Monday, January 23rd. Wells Fargo & Company raised 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 report on Thursday, February 9th. Moffett Nathanson downgraded shares of Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $36.00 to $37.00 in a report on Friday, February 10th. Finally, Citigroup raised their price target 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Moderate Buy” and an average price target of $39.25.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CAO Christopher F. Carroll sold 16,507 shares of the company’s stock in a transaction that occurred on 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 directly owns 55,406 shares in the company, valued at $1,969,129.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Christopher F. Carroll sold 16,507 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now owns 55,406 shares in the company, valued at approximately $1,969,129.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew Bonzani sold 38,885 shares of the company’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 in the company, valued at $3,980,094.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,829 shares of company stock valued at $3,053,693. Insiders own 0.33% of the company’s stock.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $33.77 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03. The Interpublic Group of Companies, Inc. has a 1-year low of $25.14 and a 1-year high of $39.52. The business has a 50 day simple moving average of $36.24 and a two-hundred day simple moving average of $32.18. The stock has a market capitalization of $13.01 billion, a PE ratio of 14.19, a P/E/G ratio of 2.61 and a beta of 1.11.

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

Interpublic Group of Companies Increases Dividend

The firm 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 dividend of $0.31 per share. 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 is currently 52.10%.

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.