Westpac Banking Corp reduced its position in Interpublic Group of Cos. (NYSE:IPG) by 10.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 357,684 shares of the company’s stock after selling 40,942 shares during the period. Westpac Banking Corp owned about 0.09% of Interpublic Group of Cos. worth $7,384,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Interpublic Group of Cos. by 99.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 5,239 shares of the company’s stock worth $121,000 after buying an additional 2,608 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Interpublic Group of Cos. by 2.9% in the second quarter. Vanguard Group Inc. now owns 36,673,705 shares of the company’s stock worth $847,162,000 after buying an additional 1,028,593 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Interpublic Group of Cos. by 65.4% in the second quarter. Principal Financial Group Inc. now owns 2,146,342 shares of the company’s stock worth $49,580,000 after buying an additional 848,575 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Interpublic Group of Cos. by 2.7% in the second quarter. Brown Advisory Inc. now owns 49,794 shares of the company’s stock worth $1,151,000 after buying an additional 1,324 shares during the last quarter. Finally, TLP Group LLC purchased a new stake in shares of Interpublic Group of Cos. during the second quarter worth $563,000. Institutional investors and hedge funds own 94.63% of the company’s stock.

Shares of Interpublic Group of Cos. (NYSE:IPG) traded up 0.80% during midday trading on Monday, hitting $22.72. 222,934 shares of the stock traded hands. Interpublic Group of Cos. has a 1-year low of $18.54 and a 1-year high of $24.82. The company has a market capitalization of $9.10 billion, a P/E ratio of 18.87 and a beta of 1.87. The stock has a 50 day moving average of $22.97 and a 200 day moving average of $23.06.

Interpublic Group of Cos. (NYSE:IPG) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. The company earned $1.92 billion during the quarter, compared to the consensus estimate of $1.93 billion. Interpublic Group of Cos. had a return on equity of 26.26% and a net margin of 6.44%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 EPS. Equities research analysts predict that Interpublic Group of Cos. will post $1.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Tuesday, August 30th. Interpublic Group of Cos.’s payout ratio is presently 50.00%.

A number of brokerages have recently weighed in on IPG. Credit Suisse Group AG began coverage on shares of Interpublic Group of Cos. in a research note on Thursday. They issued an “outperform” rating and a $27.00 price objective for the company. Jefferies Group reaffirmed a “buy” rating on shares of Interpublic Group of Cos. in a research report on Monday, August 22nd. Zacks Investment Research raised shares of Interpublic Group of Cos. from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 target price on shares of Interpublic Group of Cos. in a research report on Friday, July 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $28.00 target price on shares of Interpublic Group of Cos. in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.90.

In other news, SVP Ellen Tobi Johnson sold 35,765 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $22.69, for a total value of $811,507.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.75% of the stock is owned by insiders.

About Interpublic Group of Cos.

The Interpublic Group of Companies, Inc (IPG) is an advertising and marketing services company. IPG’s companies are engaged in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

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