Richardson Financial Services Inc. Has $115,000 Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Richardson Financial Services Inc. trimmed its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 12.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,945 shares of the business services provider’s stock after selling 585 shares during the quarter. Richardson Financial Services Inc.’s holdings in Interpublic Group of Companies were worth $115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IPG. UMB Bank n.a. boosted its holdings in shares of Interpublic Group of Companies by 3.5% in the 1st quarter. UMB Bank n.a. now owns 9,607 shares of the business services provider’s stock worth $313,000 after buying an additional 321 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of Interpublic Group of Companies by 3.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider’s stock valued at $356,000 after purchasing an additional 347 shares in the last quarter. Assetmark Inc. raised its stake in shares of Interpublic Group of Companies by 27.5% during the 4th quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 368 shares during the period. Farther Finance Advisors LLC lifted its holdings in Interpublic Group of Companies by 2.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock worth $494,000 after purchasing an additional 382 shares in the last quarter. Finally, Signet Financial Management LLC boosted its stake in Interpublic Group of Companies by 2.0% in the 1st quarter. Signet Financial Management LLC now owns 20,550 shares of the business services provider’s stock worth $671,000 after purchasing an additional 395 shares during the period. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Stock Up 1.3 %

Shares of Interpublic Group of Companies stock opened at $31.49 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $35.17. The company has a market cap of $11.89 billion, a P/E ratio of 11.21, a PEG ratio of 5.17 and a beta of 1.10. The company’s fifty day simple moving average is $30.98 and its two-hundred day simple moving average is $30.96.

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

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.19%. Interpublic Group of Companies’s payout ratio is 46.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IPG. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Macquarie lowered their price objective on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Bank of America dropped their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $34.00 to $28.00 in a report on Monday, July 22nd. Finally, Barclays cut their price target on shares of 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and an average price target 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.