FineMark National Bank & Trust Decreases Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

FineMark National Bank & Trust cut its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 19.0% during the second quarter, HoldingsChannel reports. The firm owned 38,236 shares of the business services provider’s stock after selling 8,993 shares during the quarter. FineMark National Bank & Trust’s holdings in Interpublic Group of Companies were worth $1,112,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Voisard Asset Management Group Inc. purchased a new position in Interpublic Group of Companies in the fourth quarter valued at $31,000. International Assets Investment Management LLC acquired a new position in shares of Interpublic Group of Companies during the 2nd quarter worth about $32,000. Headlands Technologies LLC purchased a new position in shares of Interpublic Group of Companies in the 1st quarter valued at about $42,000. Salomon & Ludwin LLC raised its position in shares of Interpublic Group of Companies by 2,024.6% during the 1st 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 in the last quarter. Finally, Assetmark Inc. lifted its stake in Interpublic Group of Companies by 27.5% during the fourth quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock worth $56,000 after purchasing an additional 368 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $31.46 on Friday. The stock’s 50-day moving average price is $30.49 and its 200 day moving average price is $31.04. 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 stock has a market capitalization of $11.87 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IPG shares. Macquarie dropped their price target on shares of 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. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Barclays reduced their price target on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Bank of America cut their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.88.

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.