Mackenzie Financial Corp Cuts Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Mackenzie Financial Corp lessened its stake in The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 81.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,881 shares of the business services provider’s stock after selling 91,828 shares during the period. Mackenzie Financial Corp’s holdings in Interpublic Group of Companies were worth $575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Interpublic Group of Companies in the 2nd quarter valued at $26,000. Venture Visionary Partners LLC purchased a new stake in shares of Interpublic Group of Companies in the 2nd quarter valued at $26,000. Concord Wealth Partners boosted its stake in shares of Interpublic Group of Companies by 251.5% in the 2nd quarter. Concord Wealth Partners now owns 942 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 674 shares in the last quarter. Tcwp LLC purchased a new stake in shares of Interpublic Group of Companies in the 1st quarter valued at $32,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Interpublic Group of Companies by 252.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,206 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 864 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Interpublic Group of Companies Stock Up 1.2 %

Shares of NYSE IPG opened at $34.22 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.84. The Interpublic Group of Companies, Inc. has a 12 month low of $25.14 and a 12 month high of $39.98. The firm has a market capitalization of $13.30 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 8.17 and a beta of 1.07. The firm has a fifty day simple moving average of $28.95 and a two-hundred day simple moving average of $29.15.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.29 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.39%. Interpublic Group of Companies’s payout ratio is 46.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IPG shares. Barclays cut their price objective on shares of Interpublic Group of Companies from €35.00 ($35.71) to €33.00 ($33.67) and set an “equal weight” rating for the company in a research note on Friday, September 16th. Redburn Partners reissued a “neutral” rating on shares of Interpublic Group of Companies in a research report on Thursday, September 8th. BNP Paribas began coverage on shares of Interpublic Group of Companies in a research report on Thursday, August 25th. They set an “outperform” rating for the company. Exane BNP Paribas began coverage on shares of Interpublic Group of Companies in a research report on Thursday, August 25th. They set an “outperform” rating for the company. Finally, ING Group began coverage on shares of Interpublic Group of Companies in a research report on Thursday, September 8th. They set a “buy” rating for the company. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.50.

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.

Further Reading

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

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