Allspring Global Investments Holdings LLC Sells 3,423 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Allspring Global Investments Holdings LLC lessened its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 13.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,765 shares of the business services provider’s stock after selling 3,423 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Interpublic Group of Companies were worth $688,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. boosted its holdings in shares of Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 375 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Interpublic Group of Companies in the 2nd quarter valued at $32,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Interpublic Group of Companies by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 405 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Interpublic Group of Companies in the 2nd quarter valued at $39,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

IPG stock opened at $29.48 on Friday. The company has a market capitalization of $10.98 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 5.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The Interpublic Group of Companies, Inc. has a 52-week low of $28.00 and a 52-week high of $35.17. The business has a 50-day simple moving average of $31.15 and a two-hundred day simple moving average of $30.69.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Interpublic Group of Companies’s revenue for the quarter was down 2.9% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.48%. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IPG shares. Macquarie reissued a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Thursday. Bank of America cut their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, BNP Paribas downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.57.

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.