Sienna Gestion Reduces Stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Sienna Gestion lowered its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 6.1% during the first quarter, HoldingsChannel reports. The fund owned 174,009 shares of the business services provider’s stock after selling 11,358 shares during the period. Sienna Gestion’s holdings in Interpublic Group of Companies were worth $4,594,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC grew its stake in Interpublic Group of Companies by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 22,329 shares of the business services provider’s stock worth $626,000 after buying an additional 7,965 shares during the last quarter. Barclays PLC raised its holdings in Interpublic Group of Companies by 0.3% during the fourth quarter. Barclays PLC now owns 1,656,540 shares of the business services provider’s stock worth $46,417,000 after purchasing an additional 4,787 shares during the last quarter. Mariner LLC raised its holdings in Interpublic Group of Companies by 10.1% during the fourth quarter. Mariner LLC now owns 36,895 shares of the business services provider’s stock worth $1,034,000 after purchasing an additional 3,371 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in Interpublic Group of Companies during the fourth quarter worth $776,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Interpublic Group of Companies during the fourth quarter worth $141,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG opened at $26.20 on Thursday. The company has a market cap of $9.60 billion, a P/E ratio of 22.20 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The business has a fifty day simple moving average of $24.56 and a 200-day simple moving average of $25.42.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.20. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. Interpublic Group of Companies’s payout ratio is currently 111.86%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IPG. Wall Street Zen began coverage on Interpublic Group of Companies in a report on Tuesday, May 20th. They set a “hold” rating for the company. Barclays cut Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. JPMorgan Chase & Co. cut their price target 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. Finally, UBS Group cut 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. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.39.

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.