KBC Group NV Sells 17,744 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

KBC Group NV lowered its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 17.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,274 shares of the business services provider’s stock after selling 17,744 shares during the quarter. KBC Group NV’s holdings in Interpublic Group of Companies were worth $2,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. increased its stake in shares of Interpublic Group of Companies by 3.0% during the 4th quarter. Assetmark Inc. now owns 42,496 shares of the business services provider’s stock worth $1,191,000 after purchasing an additional 1,238 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Interpublic Group of Companies by 69.5% in the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider’s stock valued at $204,000 after buying an additional 2,991 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Interpublic Group of Companies in the 4th quarter valued at approximately $2,325,000. State of Alaska Department of Revenue grew its position in shares of Interpublic Group of Companies by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider’s stock valued at $1,185,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Interpublic Group of Companies by 2.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider’s stock valued at $4,178,000 after purchasing an additional 3,547 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $25.38 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. The company has a 50-day simple moving average of $24.34 and a two-hundred day simple moving average of $26.02. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 19.37 and a beta of 1.05. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. Interpublic Group of Companies’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. On average, equities analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.32 annualized dividend and a yield of 5.20%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 100.76%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IPG shares. Citigroup restated a “buy” rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They issued a “hold” rating for the company. Finally, Barclays lowered shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $32.72.

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.