IFM Investors Pty Ltd Sells 4,017 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

IFM Investors Pty Ltd reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.5% in the 3rd quarter, Holdings Channel reports. The firm owned 85,655 shares of the business services provider’s stock after selling 4,017 shares during the quarter. IFM Investors Pty Ltd’s holdings in Interpublic Group of Companies were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin Edwards Inc. lifted its position in Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares during the period. Hazlett Burt & Watson Inc. lifted its position in Interpublic Group of Companies by 652.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after purchasing an additional 900 shares during the period. International Assets Investment Management LLC bought a new position in Interpublic Group of Companies in the second quarter worth $32,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 405 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Interpublic Group of Companies during the second quarter valued at $39,000. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock opened at $29.80 on Monday. The stock has a 50-day simple moving average of $31.33 and a 200 day simple moving average of $30.72. 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 $27.54 and a 12-month high of $35.17. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 4.97 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.51% and a net margin of 7.44%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 earnings per share. On average, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.83 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.33 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.43%. Interpublic Group of Companies’s payout ratio is 46.98%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IPG shares. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Bank of America cut their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $34.00 to $28.00 in a report on Monday, July 22nd. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Finally, Macquarie reissued a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Five analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies Company 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.