Interpublic Group of Companies Inc (NYSE:IPG) CFO Frank Mergenthaler sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $23.82, for a total value of $1,191,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Frank Mergenthaler also recently made the following trade(s):
- On Thursday, March 1st, Frank Mergenthaler sold 65,536 shares of Interpublic Group of Companies stock. The shares were sold at an average price of $23.41, for a total value of $1,534,197.76.
Shares of Interpublic Group of Companies Inc (IPG) opened at $23.73 on Tuesday. Interpublic Group of Companies Inc has a 52-week low of $18.30 and a 52-week high of $26.01. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $9,220.00, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31.
Interpublic Group of Companies declared that its board has initiated a stock buyback program on Wednesday, February 14th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared 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. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.18. The ex-dividend date is Wednesday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 3.54%. Interpublic Group of Companies’s dividend payout ratio is presently 61.31%.
Large investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth $113,000. NuWave Investment Management LLC bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth $129,000. MML Investors Services LLC bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth $201,000. Virtu Financial LLC bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth $208,000. Finally, Bank of Stockton bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth $219,000. 99.49% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on Interpublic Group of Companies to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. BMO Capital Markets increased their target price on Interpublic Group of Companies from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Pivotal Research reaffirmed a “buy” rating and issued a $26.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, January 23rd. Wells Fargo & Co lowered Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a research report on Thursday, January 18th. Finally, Zacks Investment Research raised Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Tuesday, February 13th. One investment 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. Interpublic Group of Companies currently has a consensus rating of “Hold” and an average price target of $25.92.
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About Interpublic Group of Companies
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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