SCHRODERS IS Ltd reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 36.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,457 shares of the business services provider's stock after selling 6,552 shares during the quarter. SCHRODERS IS Ltd's holdings in Interpublic Group of Companies were worth $315,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in IPG. First Trust Advisors LP raised its holdings in shares of Interpublic Group of Companies by 1,196.9% in the first quarter. First Trust Advisors LP now owns 6,280,702 shares of the business services provider's stock valued at $222,651,000 after acquiring an additional 5,796,432 shares in the last quarter. Beutel Goodman & Co Ltd. raised its holdings in Interpublic Group of Companies by 43.3% in the first quarter. Beutel Goodman & Co Ltd. now owns 5,092,319 shares of the business services provider's stock worth $180,522,000 after purchasing an additional 1,539,012 shares in the last quarter. Black Creek Investment Management Inc. raised its holdings in Interpublic Group of Companies by 12.4% in the first quarter. Black Creek Investment Management Inc. now owns 13,272,586 shares of the business services provider's stock worth $470,513,000 after purchasing an additional 1,469,442 shares in the last quarter. Vanguard Group Inc. raised its holdings in Interpublic Group of Companies by 2.3% in the first quarter. Vanguard Group Inc. now owns 47,707,617 shares of the business services provider's stock worth $1,691,233,000 after purchasing an additional 1,075,059 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Interpublic Group of Companies by 1,804.8% in the first quarter. American Century Companies Inc. now owns 937,510 shares of the business services provider's stock worth $33,235,000 after purchasing an additional 888,292 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.
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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 quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.83. The company has a market cap of $10.01 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 8.25 and a beta of 1.02. The firm's 50-day moving average price is $28.36 and its 200-day moving average price is $30.49.
Interpublic Group of Companies (NYSE:IPG – Get Rating) last issued its earnings results on Thursday, July 21st. The business services provider reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.33 billion. Interpublic Group of Companies had a return on equity of 29.37% and a net margin of 9.16%. Interpublic Group of Companies's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 earnings per share. As a group, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.7 EPS for the current fiscal year.Interpublic Group of Companies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.53%. Interpublic Group of Companies's dividend payout ratio is currently 46.77%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Interpublic Group of Companies to $36.00 in a report on Friday, July 22nd. Exane BNP Paribas assumed coverage on shares of Interpublic Group of Companies in a report on Thursday, August 25th. They issued an "outperform" rating for the company. ING Group assumed coverage on shares of Interpublic Group of Companies in a report on Thursday, September 8th. They issued a "buy" rating for the company. They noted that the move was a valuation call. Macquarie downgraded shares of Interpublic Group of Companies from an "outperform" rating to a "neutral" rating in a report on Thursday, June 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Interpublic Group of Companies from $45.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, July 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.56.
Insider Activity at Interpublic Group of Companies
In other Interpublic Group of Companies news, Director Jocelyn Carter-Miller sold 6,500 shares of the company's stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $30.00, for a total value of $195,000.00. Following the sale, the director now owns 38,214 shares in the company, valued at approximately $1,146,420. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by insiders.
Interpublic Group of Companies Profile
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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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