The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 16.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,916 shares of the business services provider’s stock after selling 6,709 shares during the quarter. Truist Financial Corp’s holdings in Interpublic Group of Companies were worth $958,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC raised its position in shares of Interpublic Group of Companies by 571.7% during the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after purchasing an additional 1,248,062 shares during the period. Canada Pension Plan Investment Board increased its stake in Interpublic Group of Companies by 19.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after purchasing an additional 899,332 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Interpublic Group of Companies by 101.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock worth $55,162,000 after buying an additional 853,287 shares during the period. Dimensional Fund Advisors LP lifted its stake in Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after buying an additional 828,150 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Interpublic Group of Companies in the first quarter worth about $20,493,000. Institutional investors own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price target for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. 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. Barclays dropped their price target on Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Morgan Stanley lowered Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock 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, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus target price of $32.44.

Interpublic Group of Companies Stock Up 1.1 %

IPG stock opened at $31.39 on Monday. The firm has a market cap of $11.85 billion, a PE ratio of 11.17, a PEG ratio of 5.18 and a beta of 1.09. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $35.17. The company has a fifty day simple moving average of $31.21 and a 200 day simple moving average of $30.79. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 business 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 earned $0.74 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 4.21%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is 46.98%.

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.