Paradigm Financial Partners LLC Sells 720 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Paradigm Financial Partners LLC lowered its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.6% in the fourth quarter, Holdings Channel reports. The fund owned 27,085 shares of the business services provider’s stock after selling 720 shares during the quarter. Paradigm Financial Partners LLC’s holdings in Interpublic Group of Companies were worth $884,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Black Creek Investment Management Inc. lifted its stake in Interpublic Group of Companies by 14.1% in the 3rd quarter. Black Creek Investment Management Inc. now owns 9,722,563 shares of the business services provider’s stock valued at $278,649,000 after purchasing an additional 1,204,630 shares during the last quarter. American Century Companies Inc. raised its holdings in Interpublic Group of Companies by 24.6% during the 3rd quarter. American Century Companies Inc. now owns 4,635,459 shares of the business services provider’s stock worth $132,852,000 after purchasing an additional 916,574 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Interpublic Group of Companies by 212.9% during the third quarter. Qube Research & Technologies Ltd now owns 827,224 shares of the business services provider’s stock valued at $23,708,000 after acquiring an additional 562,823 shares during the last quarter. Gradient Investments LLC grew its stake in Interpublic Group of Companies by 1,439,200.0% during the fourth quarter. Gradient Investments LLC now owns 503,755 shares of the business services provider’s stock worth $16,443,000 after purchasing an additional 503,720 shares during the period. Finally, QRG Capital Management Inc. acquired a new position in shares of Interpublic Group of Companies during the 3rd quarter valued at $14,408,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $31.47 on Monday. The business’s fifty day simple moving average is $31.89 and its 200 day simple moving average is $31.40. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $40.95. The firm has a market capitalization of $11.88 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 2.29 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 return on equity of 29.70% and a net margin of 9.97%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. As a group, analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.78 EPS for the current year.

Interpublic Group of Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.33 per share. This is an increase from Interpublic Group of Companies’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Thursday, February 29th. Interpublic Group of Companies’s payout ratio is currently 46.98%.

Insider Buying and Selling

In related news, CFO Ellen Tobi Johnson sold 40,393 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $1,300,654.60. Following the completion of the sale, the chief financial officer now owns 88,350 shares in the company, valued at approximately $2,844,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Philippe Krakowsky sold 150,403 shares of Interpublic Group of Companies stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total value of $4,842,976.60. Following the transaction, the chief executive officer now owns 415,776 shares in the company, valued at $13,387,987.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $1,300,654.60. Following the sale, the chief financial officer now 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 worth $8,038,601. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on IPG shares. UBS Group began coverage on shares of Interpublic Group of Companies in a report on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Barclays upped their target price on Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company reduced their price target on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and a consensus price target of $35.13.

Interpublic Group of Companies 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.