Sumitomo Mitsui DS Asset Management Company Ltd Lowers Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 31.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,711 shares of the business services provider’s stock after selling 27,714 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Interpublic Group of Companies were worth $1,486,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group raised its position in shares of Interpublic Group of Companies by 20.0% during the 1st quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock worth $64,000 after purchasing an additional 391 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Interpublic Group of Companies by 3.8% during the 1st quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider’s stock worth $410,000 after purchasing an additional 552 shares during the last quarter. Diversified Trust Co raised its position in shares of Interpublic Group of Companies by 0.5% during the 1st quarter. Diversified Trust Co now owns 119,908 shares of the business services provider’s stock worth $3,257,000 after purchasing an additional 572 shares during the last quarter. Palouse Capital Management Inc. raised its position in shares of Interpublic Group of Companies by 1.1% during the 1st quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider’s stock worth $1,487,000 after purchasing an additional 574 shares during the last quarter. Finally, Y.D. More Investments Ltd raised its position in shares of Interpublic Group of Companies by 14.5% during the 1st quarter. Y.D. More Investments Ltd now owns 4,579 shares of the business services provider’s stock worth $124,000 after purchasing an additional 579 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on IPG. Barclays downgraded shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. JPMorgan Chase & Co. cut their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Finally, UBS Group cut their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.01.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $25.70 on Monday. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The stock has a market cap of $9.41 billion, a PE ratio of 21.78 and a beta of 1.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a fifty day moving average price of $25.84 and a 200 day moving average price of $25.17.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the business posted $0.61 earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.1%. Interpublic Group of Companies’s dividend payout ratio is presently 111.86%.

Interpublic Group of Companies Company 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.