Summit Trail Advisors LLC Sells 3,332 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Summit Trail Advisors LLC cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 16.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,511 shares of the business services provider’s stock after selling 3,332 shares during the period. Summit Trail Advisors LLC’s holdings in Interpublic Group of Companies were worth $480,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Interpublic Group of Companies during the fourth quarter worth about $32,620,000. UBS Group AG grew its holdings in shares of Interpublic Group of Companies by 80.1% in the fourth quarter. UBS Group AG now owns 608,933 shares of the business services provider’s stock valued at $19,876,000 after acquiring an additional 270,885 shares in the last quarter. Assetmark Inc. increased its position in shares of 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 valued at $56,000 after acquiring an additional 368 shares during the last quarter. SageView Advisory Group LLC lifted its holdings in Interpublic Group of Companies by 3.7% during the fourth quarter. SageView Advisory Group LLC now owns 16,375 shares of the business services provider’s stock worth $545,000 after acquiring an additional 582 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in Interpublic Group of Companies by 8.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 121,421 shares of the business services provider’s stock worth $3,963,000 after purchasing an additional 9,037 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $31.30 on Tuesday. The firm has a market capitalization of $11.81 billion, a P/E ratio of 11.14, a PEG ratio of 5.17 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year 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. The business has a fifty day moving average price of $31.05 and a 200-day moving average price of $30.93.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. 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 was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Macquarie decreased their price target 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. Morgan Stanley downgraded 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. Barclays decreased their target price on 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. Finally, Bank of America dropped their price target 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, September 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.00.

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.