Truist Financial Corp Reduces Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Truist Financial Corp decreased its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 19.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,532 shares of the business services provider’s stock after selling 4,654 shares during the quarter. Truist Financial Corp’s holdings in Interpublic Group of Companies were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IPG. FNY Investment Advisers LLC purchased a new stake in Interpublic Group of Companies in the first quarter worth $44,000. Grove Bank & Trust raised its holdings in Interpublic Group of Companies by 1,219.5% in the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider’s stock worth $59,000 after purchasing an additional 2,000 shares in the last quarter. Brooklyn Investment Group raised its holdings in Interpublic Group of Companies by 20.0% in 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 in the last quarter. Ancora Advisors LLC bought a new position in Interpublic Group of Companies in the first quarter worth $102,000. Finally, Richardson Financial Services Inc. raised its holdings in Interpublic Group of Companies by 18.7% in the first quarter. Richardson Financial Services Inc. now owns 4,136 shares of the business services provider’s stock worth $112,000 after purchasing an additional 651 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Up 1.0%

Interpublic Group of Companies stock opened at $27.05 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The stock has a market capitalization of $9.91 billion, a PE ratio of 22.92 and a beta of 1.09. The business’s fifty day moving average is $26.41 and its 200 day moving average is $25.18.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate 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 company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the firm posted $0.61 earnings per share. Interpublic Group of Companies’s revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given 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 4.9%. Interpublic Group of Companies’s dividend payout ratio (DPR) is 111.86%.

Analyst Ratings Changes

A number of research firms have issued reports on IPG. Barclays increased their price objective on Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. decreased their price objective on 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Interpublic Group of Companies in a report on Wednesday, October 8th. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Finally, UBS Group reduced their price target on 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 analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.09.

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.