Ziegler Capital Management LLC reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 6.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 61,418 shares of the business services provider's stock after selling 4,424 shares during the period. Ziegler Capital Management LLC's holdings in Interpublic Group of Companies were worth $1,690,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IPG. Bank of New Hampshire raised its stake in shares of Interpublic Group of Companies by 1.2% in the 1st quarter. Bank of New Hampshire now owns 25,149 shares of the business services provider's stock valued at $892,000 after purchasing an additional 295 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Interpublic Group of Companies by 4.2% in the 1st quarter. Cerity Partners LLC now owns 7,951 shares of the business services provider's stock valued at $281,000 after purchasing an additional 324 shares in the last quarter. Norwood Financial Corp raised its stake in shares of Interpublic Group of Companies by 13.2% in the 1st quarter. Norwood Financial Corp now owns 2,875 shares of the business services provider's stock valued at $102,000 after purchasing an additional 335 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of Interpublic Group of Companies by 3.3% in the 1st quarter. Wedbush Securities Inc. now owns 11,372 shares of the business services provider's stock valued at $403,000 after purchasing an additional 360 shares in the last quarter. Finally, Paradigm Financial Partners LLC raised its stake in shares of Interpublic Group of Companies by 1.5% in the 4th quarter. Paradigm Financial Partners LLC now owns 25,017 shares of the business services provider's stock valued at $937,000 after purchasing an additional 370 shares in the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.
Get Interpublic Group of Companies alerts:Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on IPG. BNP Paribas began coverage on shares of Interpublic Group of Companies in a research note on Thursday, August 25th. They issued an "outperform" rating on the stock. Macquarie lowered shares of Interpublic Group of Companies from an "outperform" rating to a "neutral" rating in a research note on Thursday, June 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Interpublic Group of Companies from $45.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, July 8th. Exane BNP Paribas assumed coverage on shares of Interpublic Group of Companies in a research report on Thursday, August 25th. They set an "outperform" rating for the company. Finally, Moffett Nathanson lowered their price objective on shares of Interpublic Group of Companies to $39.00 in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.56.
Insider Transactions at Interpublic Group of Companies
In other news, Director Jocelyn Carter-Miller sold 6,500 shares of the company's stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $30.00, for a total value of $195,000.00. Following the completion of the sale, the director now directly owns 38,214 shares of the company's stock, valued at approximately $1,146,420. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company's stock.Interpublic Group of Companies Price Performance
NYSE IPG opened at $25.60 on Monday. The Interpublic Group of Companies, Inc. has a 52 week low of $25.14 and a 52 week high of $39.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.83. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 8.25 and a beta of 1.02. The company has a 50-day moving average price of $28.36 and a two-hundred day moving average price of $30.49.
Interpublic Group of Companies (NYSE:IPG – Get Rating) last posted its earnings results on Thursday, July 21st. The business services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Interpublic Group of Companies had a net margin of 9.16% and a return on equity of 29.37%. The firm had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.33 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Interpublic Group of Companies's quarterly revenue was up 4.7% on a year-over-year basis. Analysts forecast that The Interpublic Group of Companies, Inc. will post 2.7 EPS for the current year.
Interpublic Group of Companies Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Wednesday, August 31st. Interpublic Group of Companies's dividend payout ratio is currently 46.77%.
About Interpublic Group of Companies
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The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.
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