Ascent Group LLC Has $1.28 Million Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Ascent Group LLC trimmed its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 15.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,115 shares of the business services provider’s stock after selling 8,120 shares during the period. Ascent Group LLC’s holdings in Interpublic Group of Companies were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Scientech Research LLC purchased a new position in Interpublic Group of Companies in the second quarter valued at about $994,000. The Manufacturers Life Insurance Company grew its stake in Interpublic Group of Companies by 44.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,356,021 shares of the business services provider’s stock valued at $39,447,000 after purchasing an additional 417,766 shares in the last quarter. Millennium Management LLC grew its stake in Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after purchasing an additional 1,248,062 shares in the last quarter. MBB Public Markets I LLC purchased a new position in Interpublic Group of Companies in the second quarter valued at about $831,000. Finally, DoubleLine ETF Adviser LP grew its stake in Interpublic Group of Companies by 9.4% in the second quarter. DoubleLine ETF Adviser LP now owns 50,404 shares of the business services provider’s stock valued at $1,466,000 after purchasing an additional 4,334 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

IPG has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Macquarie decreased their price target on 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. BNP Paribas downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Finally, Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $33.00.

Interpublic Group of Companies Trading Up 0.0 %

Shares of NYSE:IPG opened at $31.63 on Tuesday. The company has a market cap of $11.94 billion, a P/E ratio of 11.26, a P/E/G ratio of 5.23 and a beta of 1.10. The stock’s 50-day moving average is $31.14 and its 200-day moving average is $30.89. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG) last issued 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. 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 for the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the business posted $0.74 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

About Interpublic Group of Companies

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.