HB Wealth Management LLC Sells 2,146 Shares of Interpublic Group of Companies, Inc. (The) $IPG

HB Wealth Management LLC lowered its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,082 shares of the business services provider’s stock after selling 2,146 shares during the quarter. HB Wealth Management LLC’s holdings in Interpublic Group of Companies were worth $369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in shares of Interpublic Group of Companies in the 1st quarter worth $44,000. Grove Bank & Trust lifted 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 purchasing an additional 2,000 shares in the last quarter. Brooklyn Investment Group boosted its holdings in 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 worth $64,000 after purchasing an additional 391 shares during the last quarter. Ancora Advisors LLC bought a new stake in Interpublic Group of Companies in the 1st quarter worth about $102,000. Finally, Richardson Financial Services Inc. increased its stake in Interpublic Group of Companies by 18.7% in the 1st quarter. Richardson Financial Services Inc. now owns 4,136 shares of the business services provider’s stock valued at $112,000 after buying an additional 651 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $26.51 on Monday. The firm has a market capitalization of $9.71 billion, a P/E ratio of 22.46 and a beta of 1.09. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. 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 business has a fifty day moving average price of $26.11 and a 200-day moving average price of $25.14.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data 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 return on equity of 28.72% and a net margin of 4.27%.The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

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 yield of 5.0%. Interpublic Group of Companies’s payout ratio is currently 111.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on IPG shares. UBS Group cut their target price on Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Interpublic Group of Companies in a research report on Saturday, September 27th. Barclays downgraded Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Finally, JPMorgan Chase & Co. reduced 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 report on Thursday, July 10th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.01.

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.