Praxis Investment Management Inc. Trims Stake in Interpublic Group of Companies, Inc. (The) $IPG

Praxis Investment Management Inc. trimmed its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 45.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,340 shares of the business services provider’s stock after selling 9,290 shares during the quarter. Praxis Investment Management Inc.’s holdings in Interpublic Group of Companies were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new position in Interpublic Group of Companies during the first quarter worth about $1,480,000. Sound Income Strategies LLC lifted its stake in Interpublic Group of Companies by 5.6% during the second quarter. Sound Income Strategies LLC now owns 457,333 shares of the business services provider’s stock worth $11,196,000 after purchasing an additional 24,258 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Interpublic Group of Companies by 2.4% during the first quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider’s stock worth $4,178,000 after purchasing an additional 3,547 shares during the last quarter. Shell Asset Management Co. lifted its stake in Interpublic Group of Companies by 42.1% during the second quarter. Shell Asset Management Co. now owns 63,315 shares of the business services provider’s stock worth $1,550,000 after purchasing an additional 18,759 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Interpublic Group of Companies by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider’s stock worth $1,185,000 after purchasing an additional 1,170 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays lifted their price target on Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Zacks Research lowered Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. JPMorgan Chase & Co. dropped their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interpublic Group of Companies in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Three equities research 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 currently has a consensus rating of “Hold” and a consensus target price of $32.09.

Interpublic Group of Companies Trading Up 0.3%

NYSE IPG opened at $26.42 on Friday. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average of $26.47 and a 200-day moving average of $25.17. The firm has a market cap of $9.68 billion, a PE ratio of 22.39 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the company posted $0.61 EPS. Interpublic Group of Companies’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. Interpublic Group of Companies’s dividend payout ratio is presently 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.