The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,930 shares of the business services provider’s stock after selling 10,477 shares during the period. Allspring Global Investments Holdings LLC owned 0.11% of Interpublic Group of Companies worth $10,570,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Trust Company N.A. acquired a new stake in Interpublic Group of Companies in the third quarter worth $234,000. Patron Partners LLC increased its position in Interpublic Group of Companies by 11.1% in the third quarter. Patron Partners LLC now owns 12,606 shares of the business services provider’s stock worth $323,000 after buying an additional 1,260 shares during the period. Raymond James Trust N.A. increased its position in Interpublic Group of Companies by 5.1% in the second quarter. Raymond James Trust N.A. now owns 19,255 shares of the business services provider’s stock worth $530,000 after buying an additional 930 shares during the period. Mutual Advisors LLC increased its position in Interpublic Group of Companies by 18.8% in the second quarter. Mutual Advisors LLC now owns 22,861 shares of the business services provider’s stock worth $629,000 after buying an additional 3,623 shares during the period. Finally, PFS Investments Inc. increased its position in Interpublic Group of Companies by 8.8% in the second quarter. PFS Investments Inc. now owns 219,223 shares of the business services provider’s stock worth $6,035,000 after buying an additional 17,751 shares during the period. 96.75% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Up 0.1 %

IPG stock opened at $35.96 on Friday. 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 cap of $13.97 billion, a PE ratio of 14.27, a P/E/G ratio of 3.58 and a beta of 1.08. The firm has a 50 day simple moving average of $33.34 and a 200 day simple moving average of $30.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.04 and a quick ratio of 1.04.

Interpublic Group of Companies (NYSE:IPGGet Rating) last released its quarterly earnings results on Friday, October 21st. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Interpublic Group of Companies had a net margin of 9.18% and a return on equity of 28.78%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.29 billion. Equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.74 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.23%. Interpublic Group of Companies’s dividend payout ratio is currently 46.03%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IPG shares. Barclays lowered their price target on Interpublic Group of Companies from €35.00 ($37.63) to €33.00 ($35.48) and set an “equal weight” rating on the stock in a report on Friday, September 16th. StockNews.com started coverage on Interpublic Group of Companies in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley raised their price target on Interpublic Group of Companies from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, December 19th. Finally, Bank of America raised Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and raised their price target for the company from $22.00 to $36.00 in a report on Thursday, January 5th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.25.

Interpublic Group of Companies Profile

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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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