Generali Asset Management SPA SGR Sells 101,850 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Generali Asset Management SPA SGR lowered its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 66.9% during the second quarter, HoldingsChannel.com reports. The fund owned 50,446 shares of the business services provider’s stock after selling 101,850 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Interpublic Group of Companies were worth $1,235,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Private Wealth Asset Management LLC boosted its position in Interpublic Group of Companies by 10.9% during the second quarter. Private Wealth Asset Management LLC now owns 4,060 shares of the business services provider’s stock valued at $99,000 after acquiring an additional 400 shares during the last quarter. Kiker Wealth Management LLC boosted its position in Interpublic Group of Companies by 37.4% during the second quarter. Kiker Wealth Management LLC now owns 28,534 shares of the business services provider’s stock valued at $699,000 after acquiring an additional 7,764 shares during the last quarter. Yousif Capital Management LLC boosted its position in Interpublic Group of Companies by 0.9% during the second quarter. Yousif Capital Management LLC now owns 51,519 shares of the business services provider’s stock valued at $1,261,000 after acquiring an additional 471 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Interpublic Group of Companies by 19.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 22,839 shares of the business services provider’s stock valued at $574,000 after acquiring an additional 3,716 shares during the last quarter. Finally, CWM LLC boosted its position in Interpublic Group of Companies by 0.6% during the second quarter. CWM LLC now owns 91,669 shares of the business services provider’s stock valued at $2,244,000 after acquiring an additional 539 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Up 0.3%

IPG opened at $26.42 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The firm has a market capitalization of $9.68 billion, a PE ratio of 22.39 and a beta of 1.09. The company’s 50-day moving average is $26.47 and its 200 day moving average is $25.17.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Tuesday, September 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 111.86%.

Wall Street Analyst Weigh In

A number of analysts have commented on IPG shares. JPMorgan Chase & Co. cut their price target on shares of 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. Zacks Research cut shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Barclays increased their price objective on shares of Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. UBS Group cut their price objective on shares of 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. Finally, Wall Street Zen raised shares of Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.09.

Interpublic Group of Companies 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.