Fifth Third Bancorp Reduces Stake in Interpublic Group of Companies, Inc. (The) $IPG

Fifth Third Bancorp lowered its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,676 shares of the business services provider’s stock after selling 2,258 shares during the period. Fifth Third Bancorp’s holdings in Interpublic Group of Companies were worth $580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IPG. Sentry Investment Management LLC purchased a new position in shares of Interpublic Group of Companies during the first quarter valued at approximately $31,000. FNY Investment Advisers LLC purchased a new position in shares of Interpublic Group of Companies during the first quarter valued at approximately $44,000. Grove Bank & Trust boosted its position in shares of Interpublic Group of Companies by 1,219.5% during the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider’s stock valued at $59,000 after buying an additional 2,000 shares during the period. Brooklyn Investment Group boosted its position in shares of Interpublic Group of Companies by 20.0% during the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock valued at $64,000 after buying an additional 391 shares during the period. Finally, Ancora Advisors LLC purchased a new position in shares of Interpublic Group of Companies during the first quarter valued at approximately $102,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $27.09 on Tuesday. 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 stock’s fifty day moving average price is $26.06 and its 200 day moving average price is $25.13. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 22.95 and a beta of 1.09.

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, topping the consensus estimate of $0.55 by $0.20. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.61 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 111.86%.

Analyst Upgrades and Downgrades

IPG has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. UBS Group decreased 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 note on Wednesday, July 23rd. Wall Street Zen raised shares of Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Finally, Barclays downgraded shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.01.

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.