The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Old North State Trust LLC

Old North State Trust LLC reduced its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 77.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186 shares of the business services provider’s stock after selling 637 shares during the quarter. Old North State Trust LLC’s holdings in Interpublic Group of Companies were worth $31,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IPG. Toroso Investments LLC lifted its position in shares of Interpublic Group of Companies by 17.2% during the 1st quarter. Toroso Investments LLC now owns 85,738 shares of the business services provider’s stock valued at $3,193,000 after acquiring an additional 12,607 shares during the period. Raleigh Capital Management Inc. grew its holdings in Interpublic Group of Companies by 10.0% in the first quarter. Raleigh Capital Management Inc. now owns 8,523 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 774 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of Interpublic Group of Companies in the first quarter valued at $160,000. Advisory Services Network LLC raised its stake in shares of Interpublic Group of Companies by 121.0% during the 1st quarter. Advisory Services Network LLC now owns 19,008 shares of the business services provider’s stock worth $708,000 after buying an additional 10,406 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its position in shares of Interpublic Group of Companies by 1.2% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 226,330 shares of the business services provider’s stock worth $8,429,000 after buying an additional 2,611 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Trading Down 1.0 %

NYSE IPG opened at $30.74 on Friday. The company has a 50-day moving average of $33.78 and a 200-day moving average of $35.93. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.03 and a quick ratio of 1.03. The Interpublic Group of Companies, Inc. has a 12 month low of $25.14 and a 12 month high of $40.95. The company has a market cap of $11.83 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.44 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Friday, July 21st. The business services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.13. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.39 billion. Interpublic Group of Companies had a net margin of 8.70% and a return on equity of 29.72%. Interpublic Group of Companies’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. As a group, equities analysts predict that The Interpublic Group of Companies, Inc. will post 3.05 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, August 31st. Interpublic Group of Companies’s payout ratio is currently 51.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IPG shares. Bank of America cut their target price on shares of Interpublic Group of Companies from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, July 24th. Citigroup reduced their target price on Interpublic Group of Companies from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, July 24th. Morgan Stanley dropped their price target on Interpublic Group of Companies from $42.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, July 24th. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Wednesday, August 23rd. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company cut Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $43.00 to $33.00 in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.00.

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.