Amalgamated Bank Sells 7,263 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Amalgamated Bank lowered its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 5.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,975 shares of the business services provider’s stock after selling 7,263 shares during the period. Amalgamated Bank’s holdings in Interpublic Group of Companies were worth $4,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New Hampshire raised its position in shares of Interpublic Group of Companies by 1.2% during the first quarter. Bank of New Hampshire now owns 25,149 shares of the business services provider’s stock valued at $892,000 after buying an additional 295 shares during the last quarter. Cerity Partners LLC raised its position in shares of Interpublic Group of Companies by 4.2% during the first quarter. Cerity Partners LLC now owns 7,951 shares of the business services provider’s stock valued at $281,000 after buying an additional 324 shares during the last quarter. Norwood Financial Corp raised its position in shares of Interpublic Group of Companies by 13.2% during the first quarter. Norwood Financial Corp now owns 2,875 shares of the business services provider’s stock valued at $102,000 after buying an additional 335 shares during the last quarter. Blair William & Co. IL raised its position in shares of Interpublic Group of Companies by 1.0% during the fourth quarter. Blair William & Co. IL now owns 37,528 shares of the business services provider’s stock valued at $1,405,000 after buying an additional 357 shares during the last quarter. Finally, Wedbush Securities Inc. raised its position in shares of Interpublic Group of Companies by 3.3% during the first quarter. Wedbush Securities Inc. now owns 11,372 shares of the business services provider’s stock valued at $403,000 after buying an additional 360 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

Insider Buying and Selling at Interpublic Group of Companies

In other Interpublic Group of Companies news, Director Jocelyn Carter-Miller sold 6,500 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $30.00, for a total value of $195,000.00. Following the completion of the sale, the director now directly owns 38,214 shares in the company, valued at $1,146,420. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IPG shares. Moffett Nathanson lowered their target price on shares of Interpublic Group of Companies to $39.00 in a research note on Friday, July 22nd. Citigroup dropped their target price on shares of Interpublic Group of Companies from $43.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. JPMorgan Chase & Co. dropped their target price on shares of Interpublic Group of Companies from $45.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Redburn Partners reiterated a “neutral” rating on shares of Interpublic Group of Companies in a report on Thursday, September 8th. Finally, Morgan Stanley dropped their price objective on Interpublic Group of Companies from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, June 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

Interpublic Group of Companies Price Performance

Shares of IPG stock opened at $26.88 on Wednesday. The stock’s 50-day moving average is $28.83 and its 200 day moving average is $30.97. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.04 and a quick ratio of 1.04. The Interpublic Group of Companies, Inc. has a 1-year low of $26.36 and a 1-year high of $39.98. The company has a market cap of $10.51 billion, a P/E ratio of 10.84, a PEG ratio of 8.77 and a beta of 1.04.

Interpublic Group of Companies (NYSE:IPGGet Rating) last released its quarterly earnings results on Thursday, July 21st. The business services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Interpublic Group of Companies had a return on equity of 29.37% and a net margin of 9.16%. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business posted $0.70 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Research analysts predict that The Interpublic Group of Companies, Inc. will post 2.71 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Wednesday, August 31st. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.77%.

About Interpublic Group of Companies

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The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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

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