Veritable L.P. trimmed its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) by 19.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,563 shares of the business services provider’s stock after selling 17,998 shares during the quarter. Veritable L.P.’s holdings in Interpublic Group of Companies were worth $2,915,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new stake in Interpublic Group of Companies during the 2nd quarter valued at about $29,000. Compass Wealth Management LLC bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth approximately $25,000. Clear Street Markets LLC grew its holdings in shares of Interpublic Group of Companies by 94.9% during the first quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock valued at $28,000 after buying an additional 372 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of Interpublic Group of Companies during the first quarter valued at approximately $33,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in Interpublic Group of Companies by 208.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 924 shares of the business services provider’s stock worth $36,000 after acquiring an additional 624 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. Barclays cut their target price on Interpublic Group of Companies from $38.26 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. 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. Wells Fargo & Company decreased their target price on Interpublic Group of Companies from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, October 23rd. Macquarie dropped their price target on shares of Interpublic Group of Companies from $36.00 to $30.00 in a report on Tuesday, October 10th. Finally, Morgan Stanley cut their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Monday, October 23rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.89.
Interpublic Group of Companies Trading Up 4.0 %
NYSE:IPG opened at $29.87 on Wednesday. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year high of $40.95. The business has a fifty day moving average price of $29.30 and a 200-day moving average price of $33.83. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 1.86 and a beta of 1.17. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.04 and a quick ratio of 1.04.
Interpublic Group of Companies (NYSE:IPG – Get Free Report) last posted its quarterly earnings data on Friday, October 20th. The business services provider reported $0.70 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.03). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.39 billion. Interpublic Group of Companies had a return on equity of 29.72% and a net margin of 8.59%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. Sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.97 EPS for the current year.
Interpublic Group of Companies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, November 30th. Interpublic Group of Companies’s dividend payout ratio (DPR) is 51.67%.
About Interpublic Group of Companies
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.
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