Interpublic Group of Companies, Inc. (The) $IPG Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 10.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,231 shares of the business services provider’s stock after selling 2,581 shares during the period. QRG Capital Management Inc.’s holdings in Interpublic Group of Companies were worth $544,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Interpublic Group of Companies by 17.6% in the 1st quarter. Farther Finance Advisors LLC now owns 19,726 shares of the business services provider’s stock valued at $515,000 after purchasing an additional 2,953 shares in the last quarter. SG Americas Securities LLC raised its position in Interpublic Group of Companies by 462.1% in the 1st quarter. SG Americas Securities LLC now owns 114,134 shares of the business services provider’s stock valued at $3,100,000 after purchasing an additional 93,829 shares in the last quarter. CX Institutional acquired a new stake in Interpublic Group of Companies in the 1st quarter valued at about $179,000. Palouse Capital Management Inc. raised its position in Interpublic Group of Companies by 1.1% in the 1st quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider’s stock valued at $1,487,000 after purchasing an additional 574 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in Interpublic Group of Companies by 2.1% in the 1st quarter. Sound Income Strategies LLC now owns 433,075 shares of the business services provider’s stock valued at $11,762,000 after purchasing an additional 9,026 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Ratings Changes

IPG has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interpublic Group of Companies in a research report on Wednesday. Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Barclays raised their target price on Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, UBS Group cut their target price on Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Interpublic Group of Companies currently has an average rating of “Hold” and a consensus price target of $32.09.

Interpublic Group of Companies Trading Down 1.7%

Shares of IPG stock opened at $26.11 on Friday. The business’s 50 day moving average is $26.30 and its two-hundred day moving average is $25.17. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The company has a market capitalization of $9.56 billion, a P/E ratio of 22.13 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.20. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the business posted $0.61 EPS. The company’s revenue was down 6.6% on a year-over-year basis. Equities analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Tuesday, September 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 111.86%.

About Interpublic Group of Companies

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.