Wang & Lee Group board approves 250-to-1 reverse share split
Ellen Tobi Johnson, the Chief Financial Officer of Interpublic Group of Companies, Inc. (NYSE:IPG), a $9.86 billion market cap advertising company trading at a P/E ratio of 14.66, recently executed a series of stock transactions as reported in an SEC filing. On March 3, Johnson sold 21,427 shares of common stock in an open market transaction at an average price of $26.82, amounting to a total of $574,672. This sale follows a series of acquisitions and disposals, including the acquisition of 42,888 shares and 21,011 shares on February 28, both at a price of $27.2 per share, and a surrender of 24,568 shares to cover tax obligations. After these transactions, Johnson holds 143,373 shares of the company. Currently trading near its 52-week low with an attractive 5% dividend yield, InvestingPro analysis suggests IPG is slightly undervalued, with additional insights available in the comprehensive Pro Research Report covering what matters most about this stock.
In other recent news, Interpublic Group announced its financial results for the fourth quarter and the full year of 2024, revealing an adjusted earnings per share (EPS) of $1.11, which fell short of analysts’ expectations of $1.17. The company also reported actual revenue of $2.43 billion, missing the forecast of $2.53 billion. Despite these setbacks, Interpublic Group achieved a modest full-year organic growth of 0.2%. In a strategic move, Interpublic sold its subsidiary R/GA to Truelink Capital, though the financial details of the deal were not disclosed. This sale is part of Interpublic’s strategy to focus on its core offerings. Additionally, the company is set to merge with Omnicom, with the merger expected to close in the second half of 2025. Analysts have noted that Interpublic Group is targeting a 1-2% organic revenue decrease in 2025, while maintaining an adjusted EBITDA margin of 16.6%. The merger with Omnicom is anticipated to enhance market capabilities, according to company executives.
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