Ellevest Inc. Decreases Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Ellevest Inc. cut its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.1% during the second quarter, Holdings Channel reports. The institutional investor owned 11,851 shares of the business services provider’s stock after selling 640 shares during the quarter. Ellevest Inc.’s holdings in Interpublic Group of Companies were worth $457,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Interpublic Group of Companies by 2.3% in the first quarter. Vanguard Group Inc. now owns 47,707,617 shares of the business services provider’s stock valued at $1,691,233,000 after buying an additional 1,075,059 shares in the last quarter. State Street Corp boosted its stake in shares of Interpublic Group of Companies by 1.1% in the third quarter. State Street Corp now owns 21,132,312 shares of the business services provider’s stock valued at $540,987,000 after buying an additional 226,086 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Interpublic Group of Companies by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 14,127,344 shares of the business services provider’s stock valued at $526,102,000 after buying an additional 355,393 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Interpublic Group of Companies by 1.6% in the first quarter. Geode Capital Management LLC now owns 8,428,989 shares of the business services provider’s stock valued at $314,227,000 after buying an additional 133,527 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC acquired a new position in Interpublic Group of Companies during the fourth quarter worth $256,699,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IPG. JPMorgan Chase & Co. reduced their price objective on Interpublic Group of Companies from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Friday, October 6th. Morgan Stanley reduced their price objective on Interpublic Group of Companies from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Monday, October 23rd. Wells Fargo & Company reduced their price objective on Interpublic Group of Companies from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Monday, October 23rd. Barclays reduced their price objective on Interpublic Group of Companies from $38.26 to $35.00 and set an “equal weight” rating for the company in a report on Monday, October 23rd. Finally, Macquarie reduced their price objective on Interpublic Group of Companies from $36.00 to $30.00 in a report on Tuesday, October 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.89.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $28.98 on Monday. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $40.95. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The business has a fifty day moving average of $29.42 and a 200-day moving average of $33.91. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Friday, October 20th. The business services provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). Interpublic Group of Companies had a return on equity of 29.72% and a net margin of 8.59%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm earned $0.63 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. As a group, analysts predict that The Interpublic Group of Companies, Inc. will post 2.97 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Thursday, November 30th. Interpublic Group of Companies’s dividend payout ratio is currently 51.67%.

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.