The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.3% during the second quarter, HoldingsChannel.com reports. The firm owned 54,700 shares of the business services provider’s stock after selling 698 shares during the period. Palouse Capital Management Inc.’s holdings in Interpublic Group of Companies were worth $1,591,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC raised its position in shares of Interpublic Group of Companies by 21.0% in the 2nd quarter. Hsbc Holdings PLC now owns 1,039,627 shares of the business services provider’s stock worth $30,237,000 after buying an additional 180,757 shares during the period. Amalgamated Bank increased its stake in Interpublic Group of Companies by 47.8% during the second quarter. Amalgamated Bank now owns 117,726 shares of the business services provider’s stock worth $3,425,000 after acquiring an additional 38,079 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Interpublic Group of Companies by 106.3% in the 2nd quarter. Quantbot Technologies LP now owns 248,650 shares of the business services provider’s stock worth $7,233,000 after purchasing an additional 128,123 shares during the period. Sierra Summit Advisors LLC lifted its stake in shares of Interpublic Group of Companies by 12.5% in the 2nd quarter. Sierra Summit Advisors LLC now owns 14,217 shares of the business services provider’s stock valued at $414,000 after purchasing an additional 1,580 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Interpublic Group of Companies by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after purchasing an additional 828,150 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

IPG opened at $31.08 on Thursday. The Interpublic Group of Companies, Inc. has a twelve month low of $27.20 and a twelve month high of $35.17. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 5.17 and a beta of 1.10. The company has a fifty day simple moving average of $30.93 and a 200 day simple moving average of $30.96.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

Wall Street Analyst Weigh In

Several research analysts recently commented on IPG shares. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price target for the company from $34.00 to $29.00 in a report on Thursday, September 12th. JPMorgan Chase & Co. dropped their price objective 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. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $34.00 to $28.00 in a report on Monday, July 22nd. Bank of America decreased their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, Barclays cut their price objective on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.00.

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.