Manning & Napier Advisors LLC Sells 31,901 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Manning & Napier Advisors LLC cut its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPGFree Report) by 55.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,706 shares of the business services provider’s stock after selling 31,901 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Interpublic Group of Companies were worth $698,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IPG. Nilsine Partners LLC bought a new position in shares of Interpublic Group of Companies during the 1st quarter worth approximately $276,000. Praxis Investment Management Inc. purchased a new position in Interpublic Group of Companies in the first quarter worth $560,000. Avior Wealth Management LLC increased its position in shares of Interpublic Group of Companies by 350.7% during the first quarter. Avior Wealth Management LLC now owns 8,798 shares of the business services provider’s stock worth $239,000 after purchasing an additional 6,846 shares in the last quarter. Centennial Wealth Advisory LLC lifted its holdings in shares of Interpublic Group of Companies by 15.0% during the 1st quarter. Centennial Wealth Advisory LLC now owns 14,296 shares of the business services provider’s stock valued at $388,000 after purchasing an additional 1,866 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC boosted its position in shares of Interpublic Group of Companies by 444.8% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 64,002 shares of the business services provider’s stock worth $1,738,000 after purchasing an additional 52,254 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on IPG. Barclays decreased their price target on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Wall Street Zen started coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They issued a “hold” rating for the company. Finally, Citigroup reissued a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.44.

Get Our Latest Research Report on IPG

Interpublic Group of Companies Trading Up 4.5%

Shares of NYSE:IPG opened at $24.48 on Tuesday. The business’s 50 day moving average price is $24.23 and its 200-day moving average price is $26.26. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 18.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07.

Interpublic Group of Companies (NYSE:IPGGet Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company posted $0.36 earnings per share. The business’s revenue was down 6.9% on a year-over-year basis. On average, equities research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Monday, June 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 100.76%.

Interpublic Group of Companies Profile

(Free Report)

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.

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

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