Patton Fund Management Inc. Sells 5,754 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Patton Fund Management Inc. cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,247 shares of the business services provider’s stock after selling 5,754 shares during the quarter. Patton Fund Management Inc.’s holdings in Interpublic Group of Companies were worth $2,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of IPG. MAI Capital Management grew its holdings in shares of Interpublic Group of Companies by 3.8% in the first quarter. MAI Capital Management now owns 43,084 shares of the business services provider’s stock worth $1,604,000 after purchasing an additional 1,588 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Interpublic Group of Companies by 4.9% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,312 shares of the business services provider’s stock worth $458,000 after acquiring an additional 580 shares during the last quarter. Pictet Asset Management SA increased its position in shares of Interpublic Group of Companies by 13.4% in the first quarter. Pictet Asset Management SA now owns 531,882 shares of the business services provider’s stock valued at $19,807,000 after acquiring an additional 62,726 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of Interpublic Group of Companies by 50.4% during the first quarter. Texas Permanent School Fund Corp now owns 81,001 shares of the business services provider’s stock valued at $3,016,000 after buying an additional 27,137 shares during the period. Finally, Lindbrook Capital LLC raised its holdings in shares of Interpublic Group of Companies by 50.9% during the first quarter. Lindbrook Capital LLC now owns 2,557 shares of the business services provider’s stock valued at $95,000 after acquiring an additional 863 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on IPG. Bank of America cut their price target on shares of Interpublic Group of Companies from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, July 24th. StockNews.com began coverage on shares of Interpublic Group of Companies in a research report on Wednesday, August 23rd. They set a “hold” rating on the stock. Citigroup lowered their price objective on shares of Interpublic Group of Companies from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, July 24th. Morgan Stanley cut their price objective on Interpublic Group of Companies from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, July 24th. Finally, Wells Fargo & Company lowered Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $43.00 to $33.00 in a research report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.00.

Interpublic Group of Companies Stock Down 0.1 %

Shares of IPG stock traded down $0.02 during trading hours on Tuesday, hitting $30.43. 223,402 shares of the company’s stock traded hands, compared to its average volume of 4,235,828. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.78. The stock’s fifty day simple moving average is $33.63 and its two-hundred day simple moving average is $35.90. The Interpublic Group of Companies, Inc. has a 12-month low of $25.14 and a 12-month high of $40.95. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.44 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Friday, July 21st. The business services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.13. Interpublic Group of Companies had a return on equity of 29.72% and a net margin of 8.70%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts expect that The Interpublic Group of Companies, Inc. will post 3.05 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, August 31st. Interpublic Group of Companies’s payout ratio is 51.45%.

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.