Victory Capital Management Inc. Sells 43,001 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Victory Capital Management Inc. lowered its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 598,507 shares of the business services provider’s stock after selling 43,001 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of Interpublic Group of Companies worth $17,411,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IPG. Voisard Asset Management Group Inc. bought a new stake in Interpublic Group of Companies in the 4th quarter valued at about $31,000. International Assets Investment Management LLC bought a new stake in Interpublic Group of Companies in the 2nd quarter valued at about $32,000. Salomon & Ludwin LLC lifted its holdings 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 during the period. Headlands Technologies LLC bought a new stake in shares of Interpublic Group of Companies during the 1st quarter worth approximately $42,000. Finally, AM Squared Ltd bought a new stake in shares of Interpublic Group of Companies during the 2nd quarter worth approximately $55,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Down 1.3 %

Shares of NYSE IPG opened at $30.54 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17. The firm has a 50 day moving average price of $30.72 and a two-hundred day moving average price of $30.98. The stock has a market cap of $11.53 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 5.20 and a beta of 1.10.

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

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Analyst Ratings Changes

Several equities analysts recently commented on IPG shares. 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 company from $34.00 to $28.00 in a research note on Monday, July 22nd. Bank of America dropped their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. 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 note on Friday, July 12th. Macquarie dropped their price objective 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. Finally, Barclays decreased 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. Two investment 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’s stock. Based on data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average price target of $33.00.

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.