Sienna Gestion Sells 70,929 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Sienna Gestion cut its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 31.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,536 shares of the business services provider’s stock after selling 70,929 shares during the period. Sienna Gestion’s holdings in Interpublic Group of Companies were worth $4,552,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Interpublic Group of Companies by 12.1% in the 1st quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock valued at $459,975,000 after purchasing an additional 1,516,975 shares during the period. Norges Bank bought a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at $32,620,000. Jacobs Levy Equity Management Inc. grew its position in shares of Interpublic Group of Companies by 101.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock worth $55,162,000 after buying an additional 853,287 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Interpublic Group of Companies by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after acquiring an additional 828,150 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Interpublic Group of Companies by 12.7% during the 4th quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after acquiring an additional 777,456 shares during the period. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $31.08 on Thursday. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year high of $35.17. The stock has a 50-day moving average of $30.93 and a 200 day moving average of $30.96. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 5.17 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. On average, sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.25%. Interpublic Group of Companies’s payout ratio is 46.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Morgan Stanley lowered Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Barclays dropped their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their price target for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Finally, Macquarie dropped their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $33.00.

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.