Intech Investment Management LLC Cuts Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Intech Investment Management LLC reduced its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 50.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,758 shares of the business services provider’s stock after selling 25,614 shares during the period. Intech Investment Management LLC’s holdings in Interpublic Group of Companies were worth $783,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Benjamin Edwards Inc. grew its holdings in shares of Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 375 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Interpublic Group of Companies in the third quarter worth $26,000. Hazlett Burt & Watson Inc. boosted its position in Interpublic Group of Companies by 652.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after buying an additional 900 shares during the period. International Assets Investment Management LLC bought a new position in shares of Interpublic Group of Companies during the second quarter valued at about $32,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Interpublic Group of Companies in the third quarter worth about $32,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on IPG. UBS Group cut 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. BNP Paribas lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Macquarie reaffirmed a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Bank of America dropped their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $30.81 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm’s fifty day simple moving average is $30.31 and its 200 day simple moving average is $30.50. The stock has a market cap of $11.48 billion, a P/E ratio of 14.53 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a twelve month low of $26.88 and a twelve month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.28%. Interpublic Group of Companies’s dividend payout ratio (DPR) is 62.26%.

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.