Tredje AP fonden Cuts Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Tredje AP fonden trimmed its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 37.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,004 shares of the business services provider’s stock after selling 35,840 shares during the quarter. Tredje AP fonden’s holdings in Interpublic Group of Companies were worth $1,746,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP raised its holdings in Interpublic Group of Companies by 106.3% in the 2nd quarter. Quantbot Technologies LP now owns 248,650 shares of the business services provider’s stock valued at $7,233,000 after acquiring an additional 128,123 shares during the last quarter. Sierra Summit Advisors LLC increased its holdings in shares of Interpublic Group of Companies by 12.5% in the second quarter. Sierra Summit Advisors LLC now owns 14,217 shares of the business services provider’s stock valued at $414,000 after purchasing an additional 1,580 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after buying an additional 828,150 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Interpublic Group of Companies by 1,402.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 10,488 shares of the business services provider’s stock worth $305,000 after acquiring an additional 9,790 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Interpublic Group of Companies by 4.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,752,025 shares of the business services provider’s stock valued at $50,966,000 after acquiring an additional 67,018 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $31.11 on Friday. The firm’s fifty day simple moving average is $31.02 and its 200-day simple moving average is $30.96. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The stock has a market cap of $11.74 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 5.17 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $35.17.

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

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.24%. Interpublic Group of Companies’s dividend payout ratio is presently 46.98%.

Wall Street Analyst Weigh In

A number of research analysts have commented on IPG shares. JPMorgan Chase & Co. decreased their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Barclays cut 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 research report on Thursday, July 25th. Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. Bank of America lowered their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.00.

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.