The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Ascent Group LLC

Ascent Group LLC lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 15.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,115 shares of the business services provider’s stock after selling 8,120 shares during the quarter. Ascent Group LLC’s holdings in Interpublic Group of Companies were worth $1,283,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Scientech Research LLC acquired a new position in Interpublic Group of Companies during the 2nd quarter worth $994,000. The Manufacturers Life Insurance Company boosted its position in Interpublic Group of Companies by 44.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,356,021 shares of the business services provider’s stock worth $39,447,000 after acquiring an additional 417,766 shares during the period. Millennium Management LLC boosted its position in Interpublic Group of Companies by 571.7% during the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after acquiring an additional 1,248,062 shares during the period. MBB Public Markets I LLC acquired a new position in Interpublic Group of Companies during the 2nd quarter worth $831,000. Finally, DoubleLine ETF Adviser LP boosted its position in Interpublic Group of Companies by 9.4% during the 2nd quarter. DoubleLine ETF Adviser LP now owns 50,404 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 4,334 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IPG. Bank of America dropped their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Macquarie dropped their price objective 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 dropped their price objective 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. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Finally, BNP Paribas downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday. Three equities 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Interpublic Group of Companies Stock Up 0.0 %

Shares of Interpublic Group of Companies stock opened at $31.63 on Tuesday. The stock’s fifty day moving average is $31.14 and its 200-day moving average is $30.89. The firm has a market capitalization of $11.94 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 5.23 and a beta of 1.10. 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 Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results 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 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%. Interpublic Group of Companies’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. Equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 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.