Farther Finance Advisors LLC Lowers Stake in Interpublic Group of Companies, Inc. (The) $IPG

Farther Finance Advisors LLC cut its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,298 shares of the business services provider’s stock after selling 1,428 shares during the quarter. Farther Finance Advisors LLC’s holdings in Interpublic Group of Companies were worth $448,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sentry Investment Management LLC purchased a new stake in Interpublic Group of Companies in the first quarter worth about $31,000. FNY Investment Advisers LLC purchased a new stake in Interpublic Group of Companies in the first quarter worth about $44,000. Grove Bank & Trust lifted its stake in Interpublic Group of Companies by 1,219.5% in the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider’s stock worth $59,000 after acquiring an additional 2,000 shares during the period. Brooklyn Investment Group lifted its stake in Interpublic Group of Companies by 20.0% in the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock worth $64,000 after acquiring an additional 391 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in Interpublic Group of Companies in the first quarter worth about $102,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Performance

IPG stock opened at $26.34 on Friday. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 22.32 and a beta of 1.09. The firm has a 50-day simple moving average of $26.00 and a two-hundred day simple moving average of $25.13. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Interpublic Group of Companies’s dividend payout ratio is 111.86%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IPG shares. JPMorgan Chase & Co. lowered their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Wall Street Zen raised shares of Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Barclays lowered shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $34.00 to $27.50 in a research report on Wednesday, June 25th. Finally, UBS Group decreased their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.01.

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.