Amalgamated Bank Trims Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Amalgamated Bank lowered its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 5.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,975 shares of the business services provider’s stock after selling 7,263 shares during the quarter. Amalgamated Bank’s holdings in Interpublic Group of Companies were worth $4,572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tcwp LLC purchased a new stake in Interpublic Group of Companies in the first quarter valued at $32,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Interpublic Group of Companies by 252.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,206 shares of the business services provider’s stock valued at $43,000 after buying an additional 864 shares during the period. HHM Wealth Advisors LLC purchased a new stake in shares of Interpublic Group of Companies in the 1st quarter valued at $52,000. Tobam raised its holdings in shares of Interpublic Group of Companies by 198.4% in the 1st quarter. Tobam now owns 1,522 shares of the business services provider’s stock valued at $54,000 after buying an additional 1,012 shares during the period. Finally, Clearstead Advisors LLC raised its holdings in shares of Interpublic Group of Companies by 43.3% in the 1st quarter. Clearstead Advisors LLC now owns 1,641 shares of the business services provider’s stock valued at $58,000 after buying an additional 496 shares during the period. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Insider Transactions at Interpublic Group of Companies

In other news, Director Jocelyn Carter-Miller sold 6,500 shares of the company’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $30.00, for a total transaction of $195,000.00. Following the completion of the transaction, the director now directly owns 38,214 shares of the company’s stock, valued at approximately $1,146,420. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Interpublic Group of Companies Trading Down 2.9 %

NYSE:IPG opened at $26.88 on Wednesday. The stock has a 50-day simple moving average of $28.83 and a 200-day simple moving average of $30.97. The stock has a market cap of $10.51 billion, a P/E ratio of 10.84, a P/E/G ratio of 8.77 and a beta of 1.04. The Interpublic Group of Companies, Inc. has a 1 year low of $26.36 and a 1 year high of $39.98. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.04 and a current ratio of 1.04.

Interpublic Group of Companies (NYSE:IPGGet Rating) last released its quarterly earnings data on Thursday, July 21st. The business services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a return on equity of 29.37% and a net margin of 9.16%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. As a group, analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.71 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.32%. Interpublic Group of Companies’s dividend payout ratio is currently 46.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IPG shares. BNP Paribas started coverage on Interpublic Group of Companies in a report on Thursday, August 25th. They issued an “outperform” rating on the stock. Redburn Partners reiterated a “neutral” rating on shares of Interpublic Group of Companies in a report on Thursday, September 8th. Morgan Stanley cut their price objective on Interpublic Group of Companies from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, June 10th. Citigroup lowered their target price on Interpublic Group of Companies from $43.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Finally, Wells Fargo & Company boosted their target price on Interpublic Group of Companies to $36.00 in a research note on Friday, July 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.56.

Interpublic Group of Companies Profile

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The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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