The Interpublic Group of Companies, Inc. (NYSE:IPG) Stock Holdings Lowered by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lessened its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 21.2% during the second quarter, Holdings Channel reports. The fund owned 8,628 shares of the business services provider’s stock after selling 2,319 shares during the quarter. Wakefield Asset Management LLLP’s holdings in The Interpublic Group of Companies were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its position in The Interpublic Group of Companies by 258.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 265,209 shares of the business services provider’s stock valued at $8,617,000 after acquiring an additional 191,129 shares during the period. Toronto Dominion Bank increased its holdings in shares of The Interpublic Group of Companies by 2.4% during the second quarter. Toronto Dominion Bank now owns 293,375 shares of the business services provider’s stock valued at $9,532,000 after purchasing an additional 6,808 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of The Interpublic Group of Companies by 41.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 140,378 shares of the business services provider’s stock valued at $4,561,000 after purchasing an additional 40,852 shares in the last quarter. Ethic Inc. raised its stake in shares of The Interpublic Group of Companies by 21.0% during the second quarter. Ethic Inc. now owns 60,130 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 10,437 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in The Interpublic Group of Companies by 27.2% in the second quarter. BNP Paribas Arbitrage SA now owns 582,181 shares of the business services provider’s stock worth $18,915,000 after purchasing an additional 124,486 shares during the period.

IPG has been the topic of a number of recent analyst reports. Barclays restated an “overweight” rating on shares of The Interpublic Group of Companies in a research report on Friday, July 2nd. Macquarie upped their target price on The Interpublic Group of Companies from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, July 22nd. BMO Capital Markets lifted their price target on The Interpublic Group of Companies from $34.00 to $38.00 and gave the company a “market perform” rating in a research report on Thursday, July 22nd. Wells Fargo & Company upped their price objective on The Interpublic Group of Companies from $36.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, July 22nd. Finally, Morgan Stanley lifted their target price on The Interpublic Group of Companies from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, July 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.27.

In other news, Chairman Michael Isor Roth sold 200,000 shares of the firm’s stock in a transaction on Wednesday, July 28th. The shares were sold at an average price of $35.27, for a total value of $7,054,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

Shares of The Interpublic Group of Companies stock traded up $0.05 on Wednesday, reaching $37.07. The stock had a trading volume of 17,355 shares, compared to its average volume of 3,952,165. The stock has a market cap of $14.59 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.06. The Interpublic Group of Companies, Inc. has a fifty-two week low of $15.92 and a fifty-two week high of $37.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50-day moving average price is $35.62 and its two-hundred day moving average price is $32.73.

The Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, July 20th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.28. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.06 billion. The Interpublic Group of Companies had a net margin of 7.91% and a return on equity of 34.27%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. As a group, equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, August 31st. The Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 62.43%.

About The Interpublic Group of Companies

Interpublic Group of Cos., Inc engages in the provision of advertising and marketing services. The firm specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates through the following segments: Integrated Agency Network (IAN) and Constituency Management Group (CMG).

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

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