Assetmark Inc. Has $54,000 Holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Assetmark Inc. decreased its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 95.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,993 shares of the business services provider’s stock after selling 40,503 shares during the quarter. Assetmark Inc.’s holdings in Interpublic Group of Companies were worth $54,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IPG. Norges Bank acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter worth approximately $17,884,000. Wellington Management Group LLP grew its position in shares of Interpublic Group of Companies by 30.7% during the 4th quarter. Wellington Management Group LLP now owns 1,109,155 shares of the business services provider’s stock worth $31,079,000 after buying an additional 260,312 shares during the period. Alliancebernstein L.P. grew its position in shares of Interpublic Group of Companies by 156.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,056,905 shares of the business services provider’s stock worth $29,614,000 after buying an additional 644,621 shares during the period. Franklin Resources Inc. grew its position in shares of Interpublic Group of Companies by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 297,680 shares of the business services provider’s stock worth $8,341,000 after buying an additional 1,743 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter worth approximately $3,278,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $24.55 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The firm’s 50 day moving average price is $24.36 and its two-hundred day moving average price is $25.53. The firm has a market cap of $8.99 billion, a P/E ratio of 20.81 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. On average, analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies’s payout ratio is currently 111.86%.

Analyst Ratings Changes

IPG has been the subject of several analyst reports. Barclays cut shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. UBS Group lowered their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen started coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They set a “hold” rating for the company. JPMorgan Chase & Co. cut their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Finally, Citigroup reissued a “buy” rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.39.

Interpublic Group of Companies 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.