Truist Financial Corp Sells 7,550 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Truist Financial Corp cut its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,565 shares of the business services provider’s stock after selling 7,550 shares during the quarter. Truist Financial Corp’s holdings in Interpublic Group of Companies were worth $2,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Interpublic Group of Companies in the 4th quarter worth about $29,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Interpublic Group of Companies in the 3rd quarter worth approximately $33,000. Tobam grew its stake in shares of Interpublic Group of Companies by 2,340.0% in the 4th quarter. Tobam now owns 1,098 shares of the business services provider’s stock worth $36,000 after buying an additional 1,053 shares during the last quarter. First Command Advisory Services Inc. bought a new position in Interpublic Group of Companies during the 3rd quarter valued at approximately $43,000. Finally, MCF Advisors LLC purchased a new position in Interpublic Group of Companies during the fourth quarter valued at $43,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Interpublic Group of Companies

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 40,393 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the completion of the transaction, the chief financial officer now owns 88,350 shares of the company’s stock, valued at approximately $2,844,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Christopher F. Carroll sold 18,382 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $591,900.40. Following the completion of the sale, the chief accounting officer now directly owns 42,390 shares in the company, valued at $1,364,958. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ellen Tobi Johnson sold 40,393 shares of Interpublic Group of Companies stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $1,300,654.60. Following the transaction, the chief financial officer now directly owns 88,350 shares of the company’s stock, valued at $2,844,870. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,646 shares of company stock valued at $8,038,601. Corporate insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $30.96 on Thursday. The business has a 50-day simple moving average of $31.65 and a two-hundred day simple moving average of $31.48. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a 52 week low of $27.20 and a 52 week high of $40.95. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 2.24 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, April 24th. The business services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. On average, analysts expect that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current year.

Wall Street Analysts Forecast Growth

IPG has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. UBS Group initiated coverage on Interpublic Group of Companies in a research note on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Finally, Wells Fargo & Company lowered their target price on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.13.

Interpublic Group of Companies Company 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.