Gabelli Funds LLC Reduces Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Gabelli Funds LLC reduced its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,000 shares of the business services provider’s stock after selling 15,000 shares during the period. Gabelli Funds LLC owned about 0.06% of Interpublic Group of Companies worth $6,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased 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 worth $459,975,000 after purchasing an additional 1,516,975 shares in the last quarter. Norges Bank purchased a new stake in Interpublic Group of Companies in the fourth quarter worth about $32,620,000. Canada Pension Plan Investment Board increased its position in Interpublic Group of Companies by 19.8% in the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after buying an additional 899,332 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Interpublic Group of Companies by 101.9% in the first 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. Finally, Dimensional Fund Advisors LP lifted its position in shares of Interpublic Group of Companies by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after buying an additional 828,150 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Down 0.3 %

Shares of Interpublic Group of Companies stock opened at $31.22 on Wednesday. The Interpublic Group of Companies, Inc. has a twelve month low of $27.20 and a twelve month high of $35.17. 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 business has a 50-day moving average price of $31.06 and a 200-day moving average price of $30.93. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 5.17 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data 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 business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. Equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.23%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 46.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Bank of America dropped their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. 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 report on Thursday, September 12th. Finally, Macquarie dropped their price objective on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.