The Interpublic Group of Companies, Inc. (NYSE:IPG) Stock Holdings Lessened by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV trimmed its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 22.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,890 shares of the business services provider’s stock after selling 13,946 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Interpublic Group of Companies were worth $1,422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in Interpublic Group of Companies by 15.0% during the 1st quarter. BNP Paribas Financial Markets now owns 989,318 shares of the business services provider’s stock worth $32,281,000 after buying an additional 129,215 shares during the period. Norges Bank purchased a new position in shares of Interpublic Group of Companies in the fourth quarter worth approximately $32,620,000. Alaska Permanent Fund Corp raised its holdings in shares of Interpublic Group of Companies by 305.6% during the first quarter. Alaska Permanent Fund Corp now owns 54,129 shares of the business services provider’s stock valued at $1,766,000 after acquiring an additional 40,785 shares during the period. Boston Trust Walden Corp lifted its position in shares of Interpublic Group of Companies by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after acquiring an additional 34,965 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Interpublic Group of Companies by 68.0% in the 1st quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock valued at $3,949,000 after acquiring an additional 48,996 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IPG. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their target price for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Bank of America reduced 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. Barclays lowered 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 note on Thursday, July 25th. Macquarie reduced their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered 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 research report on Friday, July 12th. Two 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.00.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $31.22 on Wednesday. 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 capitalization of $11.78 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 5.17 and a beta of 1.10. 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 50 day moving average price of $31.06 and a two-hundred day moving average price of $30.93.

Interpublic Group of Companies (NYSE:IPG) last issued 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. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the company posted $0.74 earnings per share. Interpublic Group of Companies’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

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.