Assenagon Asset Management S.A. Decreases Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Assenagon Asset Management S.A. lowered its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 78.1% during the third quarter, Holdings Channel reports. The institutional investor owned 14,400 shares of the business services provider’s stock after selling 51,471 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Interpublic Group of Companies were worth $455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Impact Partnership Wealth LLC boosted its position in shares of Interpublic Group of Companies by 8.9% in the 3rd quarter. Impact Partnership Wealth LLC now owns 12,409 shares of the business services provider’s stock worth $393,000 after purchasing an additional 1,015 shares in the last quarter. Great Lakes Retirement Inc. grew its stake in shares of Interpublic Group of Companies by 7.4% during the third quarter. Great Lakes Retirement Inc. now owns 12,937 shares of the business services provider’s stock worth $409,000 after acquiring an additional 886 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Interpublic Group of Companies by 2,679.9% during the third quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock valued at $965,000 after acquiring an additional 29,425 shares in the last quarter. Elevated Capital Advisors LLC raised its position in shares of Interpublic Group of Companies by 11.4% in the 3rd quarter. Elevated Capital Advisors LLC now owns 23,955 shares of the business services provider’s stock valued at $758,000 after purchasing an additional 2,461 shares during the last quarter. Finally, Symphony Financial Ltd. Co. acquired a new stake in Interpublic Group of Companies in the 3rd quarter worth approximately $512,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Up 0.3 %

Interpublic Group of Companies stock opened at $29.48 on Monday. The firm has a market cap of $10.98 billion, a PE ratio of 13.91, a P/E/G ratio of 4.92 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 12 month low of $28.00 and a 12 month high of $35.17. The stock’s 50 day simple moving average is $31.15 and its two-hundred day simple moving average is $30.70. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results 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 net margin of 7.44% and a return on equity of 27.76%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business earned $0.70 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. Analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date 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 payout ratio is 62.26%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IPG shares. StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Thursday. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Barclays decreased their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, Macquarie reiterated a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.57.

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.