Lmcg Investments LLC Decreases Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Lmcg Investments LLC trimmed its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,503 shares of the business services provider’s stock after selling 713 shares during the quarter. Lmcg Investments LLC’s holdings in Interpublic Group of Companies were worth $7,200,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of Interpublic Group of Companies by 12.1% during the 1st quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock valued at $459,975,000 after buying an additional 1,516,975 shares in the last quarter. First Trust Advisors LP grew its holdings in Interpublic Group of Companies by 12.7% during the 4th quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after purchasing an additional 777,456 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Interpublic Group of Companies by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after purchasing an additional 828,150 shares during the last quarter. American Century Companies Inc. grew its holdings in Interpublic Group of Companies by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock valued at $163,049,000 after purchasing an additional 255,250 shares during the last quarter. Finally, Ariel Investments LLC grew its holdings in Interpublic Group of Companies by 2.9% during the 1st quarter. Ariel Investments LLC now owns 5,516,550 shares of the business services provider’s stock valued at $180,005,000 after purchasing an additional 154,355 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price target for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Bank of America cut their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. cut their price target on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Macquarie dropped their target price on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Finally, Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.00.

Interpublic Group of Companies Price Performance

Shares of IPG stock opened at $31.17 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. The company’s 50-day simple moving average is $30.82 and its two-hundred day simple moving average is $30.96. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year high of $35.17. The company has a market capitalization of $11.76 billion, a P/E ratio of 11.09, a P/E/G ratio of 5.17 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. Interpublic Group of Companies’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. As a group, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 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 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

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.