Park Avenue Securities LLC Trims Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Park Avenue Securities LLC trimmed its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,362 shares of the business services provider’s stock after selling 2,876 shares during the quarter. Park Avenue Securities LLC’s holdings in Interpublic Group of Companies were worth $689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IPG. Prosperity Consulting Group LLC raised its position in shares of Interpublic Group of Companies by 2.3% during the fourth quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider’s stock valued at $595,000 after buying an additional 470 shares during the last quarter. Allworth Financial LP raised its position in shares of Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after buying an additional 480 shares during the last quarter. GeoWealth Management LLC raised its position in shares of Interpublic Group of Companies by 20.7% during the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock valued at $94,000 after buying an additional 573 shares during the last quarter. Xponance Inc. raised its position in shares of Interpublic Group of Companies by 1.0% during the fourth quarter. Xponance Inc. now owns 59,844 shares of the business services provider’s stock valued at $1,677,000 after buying an additional 587 shares during the last quarter. Finally, Proactive Wealth Strategies LLC raised its position in shares of Interpublic Group of Companies by 5.8% during the fourth quarter. Proactive Wealth Strategies LLC now owns 11,094 shares of the business services provider’s stock valued at $311,000 after buying an additional 607 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IPG has been the topic of several recent analyst reports. Argus cut shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Wall Street Zen began coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a “hold” rating for the company. Barclays cut their target price on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Finally, Citigroup reissued a “buy” rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.44.

Interpublic Group of Companies Stock Down 2.8%

NYSE:IPG opened at $22.97 on Friday. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 12.55 and a beta of 1.06. The stock has a fifty day simple moving average of $24.35 and a 200-day simple moving average of $26.58. 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 earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. Analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend is Monday, June 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 100.76%.

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.