Jaffetilchin Investment Partners LLC cut its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 17.7% during the second quarter, Holdings Channel reports. The institutional investor owned 14,779 shares of the business services provider’s stock after selling 3,173 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Interpublic Group of Companies, Inc. (The) were worth $364,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Global X Management Co. LLC boosted its position in shares of Interpublic Group of Companies, Inc. (The) by 29.9% in the first quarter. Global X Management Co. LLC now owns 5,502 shares of the business services provider’s stock worth $135,000 after buying an additional 1,266 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Interpublic Group of Companies, Inc. (The) by 6.4% in the first quarter. Van ECK Associates Corp now owns 5,507 shares of the business services provider’s stock worth $135,000 after buying an additional 331 shares during the last quarter. Exane Derivatives boosted its position in shares of Interpublic Group of Companies, Inc. (The) by 181.3% in the second quarter. Exane Derivatives now owns 5,634 shares of the business services provider’s stock worth $139,000 after buying an additional 3,631 shares during the last quarter. First Bank & Trust acquired a new position in shares of Interpublic Group of Companies, Inc. (The) during the first quarter worth about $140,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Interpublic Group of Companies, Inc. (The) by 120.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 7,285 shares of the business services provider’s stock worth $179,000 after buying an additional 3,973 shares during the last quarter. 98.30% of the stock is owned by institutional investors and hedge funds.

Shares of Interpublic Group of Companies, Inc. (NYSE:IPG) opened at 21.06 on Thursday. The company has a market cap of $8.28 billion, a P/E ratio of 15.16 and a beta of 1.53. The firm has a 50-day moving average of $23.19 and a 200-day moving average of $24.04. Interpublic Group of Companies, Inc. has a 12-month low of $20.65 and a 12-month high of $25.71.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last announced its earnings results on Tuesday, July 25th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.07. Interpublic Group of Companies, Inc. (The) had a net margin of 7.19% and a return on equity of 27.72%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts predict that Interpublic Group of Companies, Inc. will post $1.43 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.72 annualized dividend and a yield of 3.42%. Interpublic Group of Companies, Inc. (The)’s payout ratio is presently 51.80%.

WARNING: This story was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://www.watchlistnews.com/jaffetilchin-investment-partners-llc-reduces-position-in-interpublic-group-of-companies-inc-the-ipg/1498654.html.

A number of equities analysts have issued reports on IPG shares. Zacks Investment Research cut shares of Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. Telsey Advisory Group lifted their price target on shares of Interpublic Group of Companies, Inc. (The) from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, April 24th. Jefferies Group LLC reissued a “buy” rating and set a $27.00 price target on shares of Interpublic Group of Companies, Inc. (The) in a research report on Monday, May 22nd. Macquarie cut shares of Interpublic Group of Companies, Inc. (The) from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $28.00 to $24.00 in a research report on Tuesday, June 6th. Finally, Royal Bank Of Canada set a $29.00 price target on shares of Interpublic Group of Companies, Inc. (The) and gave the stock a “buy” rating in a research report on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Interpublic Group of Companies, Inc. (The) presently has an average rating of “Hold” and an average target price of $26.07.

In other Interpublic Group of Companies, Inc. (The) news, SVP Julie Connors sold 5,854 shares of Interpublic Group of Companies, Inc. (The) stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $24.26, for a total transaction of $142,018.04. Following the completion of the sale, the senior vice president now directly owns 10,592 shares in the company, valued at $256,961.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.49% of the company’s stock.

About Interpublic Group of Companies, Inc. (The)

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interpublic Group of Companies, Inc. (The) (NYSE:IPG).

Institutional Ownership by Quarter for Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Receive News & Ratings for Interpublic Group of Companies Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies Inc. (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.