Summit Trail Advisors LLC Sells 3,332 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Summit Trail Advisors LLC decreased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 16.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,511 shares of the business services provider’s stock after selling 3,332 shares during the quarter. Summit Trail Advisors LLC’s holdings in Interpublic Group of Companies were worth $480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IPG. Ameritas Investment Partners Inc. increased its position in Interpublic Group of Companies by 4.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 66,764 shares of the business services provider’s stock worth $1,942,000 after purchasing an additional 2,843 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Interpublic Group of Companies by 4.5% during the second quarter. Pacer Advisors Inc. now owns 27,319 shares of the business services provider’s stock worth $795,000 after buying an additional 1,188 shares in the last quarter. AE Wealth Management LLC lifted its stake in shares of Interpublic Group of Companies by 5.8% in the 2nd quarter. AE Wealth Management LLC now owns 530,833 shares of the business services provider’s stock valued at $15,442,000 after acquiring an additional 29,291 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Interpublic Group of Companies by 19.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after acquiring an additional 899,332 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in 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 worth $26,000 after acquiring an additional 375 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Analysts Set New Price Targets

IPG has been the topic of a number of recent research reports. Macquarie cut their price target on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Barclays reduced their target price 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. Bank of America cut their price target on shares of 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. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. lowered their target price on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.00.

Interpublic Group of Companies Price Performance

IPG stock opened at $31.30 on Tuesday. 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 company’s fifty day simple moving average is $31.05 and its 200 day simple moving average is $30.93. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $35.17. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 5.17 and a beta of 1.10.

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

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.33 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.22%. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Interpublic Group of Companies 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.