American Century Companies Inc. Sells 806,996 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Key Points

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American Century Companies Inc. trimmed its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 17.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,800,533 shares of the business services provider's stock after selling 806,996 shares during the period. American Century Companies Inc. owned about 1.03% of Interpublic Group of Companies worth $103,222,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new stake in Interpublic Group of Companies during the first quarter worth about $1,480,000. Asset Management One Co. Ltd. raised its stake in shares of Interpublic Group of Companies by 2.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider's stock worth $4,178,000 after purchasing an additional 3,547 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Interpublic Group of Companies by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider's stock worth $1,185,000 after purchasing an additional 1,170 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Interpublic Group of Companies by 7.5% in the 1st quarter. LPL Financial LLC now owns 500,207 shares of the business services provider's stock valued at $13,586,000 after buying an additional 34,753 shares during the last quarter. Finally, NBC Securities Inc. grew its stake in shares of Interpublic Group of Companies by 106,420.0% in the first quarter. NBC Securities Inc. now owns 5,326 shares of the business services provider's stock valued at $144,000 after buying an additional 5,321 shares in the last quarter. Institutional investors own 98.43% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. JPMorgan Chase & Co. cut their target price 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. Finally, UBS Group lowered their price target on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Interpublic Group of Companies has an average rating of "Hold" and an average target price of $32.39.

Interpublic Group of Companies Stock Performance

Shares of IPG stock traded up $0.6960 during midday trading on Friday, hitting $27.2260. 9,019,737 shares of the company were exchanged, compared to its average volume of 6,898,178. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The firm has a market capitalization of $9.97 billion, a P/E ratio of 23.07 and a beta of 1.05. The firm's 50 day moving average price is $24.91 and its two-hundred day moving average price is $25.31. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share 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 analysts' expectations of $2.15 billion. During the same period in the prior year, the firm earned $0.61 EPS. The business's revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.33 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 4.8%. Interpublic Group of Companies's payout ratio is 111.86%.

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.