Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,018,859 shares of the business services provider's stock after selling 252,900 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.08% of Interpublic Group of Companies worth $109,152,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IPG. Sentry Investment Management LLC acquired a new stake in shares of Interpublic Group of Companies in the first quarter valued at about $31,000. Raiffeisen Bank International AG acquired a new stake in shares of Interpublic Group of Companies in the fourth quarter valued at about $42,000. FNY Investment Advisers LLC purchased a new position in shares of Interpublic Group of Companies in the first quarter worth about $44,000. Grove Bank & Trust lifted its stake in shares of 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 buying an additional 2,000 shares in the last quarter. Finally, GeoWealth Management LLC lifted its stake in shares of Interpublic Group of Companies by 20.7% in the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after buying an additional 573 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, Citigroup reissued a "buy" rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $32.06.

Interpublic Group of Companies Trading Down 1.0%

IPG stock traded down $0.24 during trading on Friday, reaching $24.76. 5,409,953 shares of the stock were exchanged, compared to its average volume of 5,915,390. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average price of $24.35 and a 200-day moving average price of $25.85. 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 $9.15 billion, a price-to-earnings ratio of 18.90 and a beta of 1.05.

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

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio is presently 100.76%.

Interpublic Group of Companies 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.