The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Westpac Banking Corp

Westpac Banking Corp cut its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 54.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,002 shares of the business services provider’s stock after selling 109,882 shares during the period. Westpac Banking Corp’s holdings in Interpublic Group of Companies were worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in IPG. Compass Wealth Management LLC purchased a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $25,000. Clear Street Markets LLC boosted its position in Interpublic Group of Companies by 94.9% in the 1st quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock worth $28,000 after purchasing an additional 372 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in Interpublic Group of Companies in the 2nd quarter worth approximately $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Interpublic Group of Companies during the 1st quarter worth approximately $33,000. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Interpublic Group of Companies during the 4th quarter valued at approximately $34,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG traded down $0.13 during trading on Thursday, reaching $30.11. The stock had a trading volume of 742,529 shares, compared to its average volume of 4,209,729. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.04 and a current ratio of 1.04. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $40.95. The stock has a market cap of $11.53 billion, a PE ratio of 12.60, a PEG ratio of 1.86 and a beta of 1.17. The business has a fifty day moving average price of $29.26 and a 200-day moving average price of $33.80.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Friday, October 20th. The business services provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Interpublic Group of Companies had a net margin of 8.59% and a return on equity of 29.72%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. On average, equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.97 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.31 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.24 annualized dividend and a yield of 4.12%. Interpublic Group of Companies’s dividend payout ratio is presently 51.67%.

Wall Street Analyst Weigh In

Several analysts recently commented on IPG shares. Morgan Stanley dropped their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Bank of America lowered their price target on Interpublic Group of Companies to $38.00 in a research report on Wednesday, September 20th. Citigroup cut their price objective on Interpublic Group of Companies from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, October 23rd. Finally, Barclays decreased their target price on Interpublic Group of Companies from $38.26 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $35.89.

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.