Whittier Trust Co. Cuts Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Whittier Trust Co. reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 94.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,748 shares of the business services provider’s stock after selling 151,390 shares during the quarter. Whittier Trust Co.’s holdings in Interpublic Group of Companies were worth $254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Voisard Asset Management Group Inc. purchased a new position in shares of Interpublic Group of Companies in the fourth quarter valued at $31,000. Headlands Technologies LLC acquired a new position in shares of Interpublic Group of Companies in the 1st quarter valued at $42,000. Salomon & Ludwin LLC increased its stake in Interpublic Group of Companies by 2,024.6% during the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock worth $42,000 after acquiring an additional 1,235 shares during the last quarter. Assetmark Inc. increased its position in Interpublic Group of Companies by 27.5% during the 4th quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock worth $56,000 after purchasing an additional 368 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Interpublic Group of Companies by 26.0% during the fourth quarter. Quarry LP now owns 2,052 shares of the business services provider’s stock worth $67,000 after purchasing an additional 423 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

IPG stock opened at $32.39 on Friday. 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. The firm has a market cap of $12.22 billion, a P/E ratio of 11.52, a P/E/G ratio of 3.29 and a beta of 1.12. The company’s 50-day moving average price is $30.21 and its two-hundred day moving average price is $31.04.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (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 net margin of 9.46% and a return on equity of 27.98%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. On average, analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.08%. Interpublic Group of Companies’s dividend payout ratio is presently 46.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IPG shares. Barclays decreased their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Bank of America reduced their price objective on shares of Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. JPMorgan Chase & Co. reduced their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Macquarie lowered their target price on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.13.

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.