Investors bought shares of Interpublic Group of Companies Inc (NYSE:IPG) on weakness during trading on Monday following insider selling activity. $35.16 million flowed into the stock on the tick-up and $10.69 million flowed out of the stock on the tick-down, for a money net flow of $24.47 million into the stock. Of all stocks tracked, Interpublic Group of Companies had the 29th highest net in-flow for the day. Interpublic Group of Companies traded down ($0.20) for the day and closed at $23.73Specifically, CFO Frank Mergenthaler sold 50,000 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $23.82, for a total transaction of $1,191,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director H John Greeniaus sold 14,600 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $23.84, for a total transaction of $348,064.00. The disclosure for this sale can be found here. Insiders have sold 448,258 shares of company stock valued at $10,563,009 in the last three months. 1.49% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on IPG. Morgan Stanley increased their target price on shares of Interpublic Group of Companies to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Atlantic Securities raised shares of Interpublic Group of Companies from an “underweight” rating to a “neutral” rating in a research report on Friday, March 2nd. Bank of America cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 25th. BMO Capital Markets raised their price target on shares of Interpublic Group of Companies from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, ValuEngine cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.92.
The stock has a market capitalization of $9,123.46, a price-to-earnings ratio of 16.71, a PEG ratio of 2.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.97 and a quick ratio of 0.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.58%. This is a positive change from Interpublic Group of Companies’s previous quarterly dividend of $0.18. Interpublic Group of Companies’s dividend payout ratio is presently 57.14%.
Interpublic Group of Companies announced that its board has authorized a share buyback program on Wednesday, February 14th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Large investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $113,000. NuWave Investment Management LLC acquired a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $129,000. MML Investors Services LLC acquired a new stake in shares of Interpublic Group of Companies in the fourth quarter worth $201,000. Virtu Financial LLC acquired a new stake in Interpublic Group of Companies during the fourth quarter valued at $208,000. Finally, Bank of Stockton acquired a new stake in Interpublic Group of Companies during the fourth quarter valued at $219,000. Hedge funds and other institutional investors own 99.49% of the company’s stock.
Interpublic Group of Companies Company Profile
The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).
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