CIBC Asset Management Inc Has $1.75 Million Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

CIBC Asset Management Inc decreased its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 6.4% in the second quarter, HoldingsChannel reports. The firm owned 60,107 shares of the business services provider’s stock after selling 4,084 shares during the period. CIBC Asset Management Inc’s holdings in Interpublic Group of Companies were worth $1,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Interpublic Group of Companies by 12.1% during the first quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock valued at $459,975,000 after buying an additional 1,516,975 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Interpublic Group of Companies by 12.7% during the fourth quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after acquiring an additional 777,456 shares during the period. Ariel Investments LLC lifted its position in shares of Interpublic Group of Companies by 2.9% in the 1st quarter. Ariel Investments LLC now owns 5,516,550 shares of the business services provider’s stock valued at $180,005,000 after acquiring an additional 154,355 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Interpublic Group of Companies by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,150,371 shares of the business services provider’s stock worth $168,119,000 after purchasing an additional 141,828 shares during the period. Finally, Fiduciary Management Inc. WI grew its position in Interpublic Group of Companies by 4.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 3,797,972 shares of the business services provider’s stock worth $123,966,000 after purchasing an additional 153,857 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 1.1 %

IPG opened at $31.10 on Friday. The company has a market capitalization of $11.74 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12. The business has a 50-day moving average of $30.53 and a 200-day moving average of $31.03. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $35.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG) last posted 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. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors 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 4.24%. The ex-dividend date is Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is presently 46.98%.

Wall Street Analyst Weigh In

IPG has been the subject of a number of research analyst reports. Macquarie reduced their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Bank of America reduced their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday. Barclays lowered their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. reduced their price target on shares of 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. Finally, Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.88.

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.