Amalgamated Bank Cuts Stock Position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Amalgamated Bank lowered its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,215 shares of the business services provider’s stock after selling 906 shares during the period. Amalgamated Bank’s holdings in Interpublic Group of Companies were worth $1,934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IPG. Patron Partners LLC boosted its stake in Interpublic Group of Companies by 19.3% in the 1st quarter. Patron Partners LLC now owns 21,912 shares of the business services provider’s stock worth $595,000 after purchasing an additional 3,544 shares in the last quarter. Elevated Capital Advisors LLC boosted its stake in Interpublic Group of Companies by 3.9% in the 1st quarter. Elevated Capital Advisors LLC now owns 29,680 shares of the business services provider’s stock worth $806,000 after purchasing an additional 1,101 shares in the last quarter. Centerline Wealth Advisors LLC acquired a new stake in Interpublic Group of Companies in the 1st quarter worth approximately $982,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Interpublic Group of Companies by 9.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 357,374 shares of the business services provider’s stock worth $9,395,000 after purchasing an additional 30,288 shares in the last quarter. Finally, Old North State Wealth Management LLC boosted its stake in Interpublic Group of Companies by 24.2% in the 1st quarter. Old North State Wealth Management LLC now owns 14,297 shares of the business services provider’s stock worth $388,000 after purchasing an additional 2,784 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup reiterated a “buy” rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a “hold” rating for the company. Finally, Barclays cut shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and a consensus target price of $32.72.

Interpublic Group of Companies Stock Down 0.7%

IPG stock opened at $25.38 on Monday. The firm’s fifty day simple moving average is $24.35 and its 200-day simple moving average is $25.95. The company has a market capitalization of $9.38 billion, a P/E ratio of 19.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was 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.