Redpoint Investment Management Pty Ltd reduced its position in Interpublic Group of Companies Inc (NYSE:IPG) by 53.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 38,596 shares of the business services provider’s stock after selling 43,494 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Interpublic Group of Companies were worth $872,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Trust N.A. grew its stake in Interpublic Group of Companies by 2.2% in the 2nd quarter. Raymond James Trust N.A. now owns 22,075 shares of the business services provider’s stock worth $499,000 after acquiring an additional 471 shares during the period. BancorpSouth Bank boosted its holdings in shares of Interpublic Group of Companies by 2.6% in the 2nd quarter. BancorpSouth Bank now owns 20,219 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 506 shares during the last quarter. O Shares Investment Advisers LLC boosted its holdings in shares of Interpublic Group of Companies by 3.0% in the 1st quarter. O Shares Investment Advisers LLC now owns 17,536 shares of the business services provider’s stock valued at $368,000 after purchasing an additional 512 shares during the last quarter. Securian Asset Management Inc boosted its holdings in shares of Interpublic Group of Companies by 1.3% in the 2nd quarter. Securian Asset Management Inc now owns 39,854 shares of the business services provider’s stock valued at $900,000 after purchasing an additional 521 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Interpublic Group of Companies by 0.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 86,504 shares of the business services provider’s stock valued at $1,817,000 after purchasing an additional 585 shares during the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on IPG shares. ValuEngine lowered shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Bank of America upgraded shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating in a report on Wednesday, July 10th. Zacks Investment Research lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a report on Wednesday, July 3rd. TheStreet lowered shares of Interpublic Group of Companies from a “b” rating to a “c+” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets decreased their price target on shares of Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $25.71.

In other Interpublic Group of Companies news, Director H John Greeniaus sold 44,396 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $23.02, for a total value of $1,021,995.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Isor Roth sold 431,594 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $23.08, for a total transaction of $9,961,189.52. The disclosure for this sale can be found here. Insiders own 1.09% of the company’s stock.

IPG stock traded up $0.20 during trading on Thursday, reaching $20.11. The stock had a trading volume of 21,821 shares, compared to its average volume of 3,087,883. Interpublic Group of Companies Inc has a 1-year low of $19.56 and a 1-year high of $25.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $7.73 billion, a P/E ratio of 10.84, a PEG ratio of 2.25 and a beta of 1.06. The firm has a fifty day moving average price of $21.76 and a 200 day moving average price of $22.22.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Tuesday, July 23rd. The business services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Interpublic Group of Companies had a net margin of 6.46% and a return on equity of 32.03%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the business posted $0.43 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts predict that Interpublic Group of Companies Inc will post 1.89 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.235 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.94 dividend on an annualized basis and a yield of 4.67%. Interpublic Group of Companies’s dividend payout ratio is currently 50.54%.

Interpublic Group of Companies Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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