Bank of New York Mellon Corp Lowers Holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Bank of New York Mellon Corp trimmed its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,018,859 shares of the business services provider's stock after selling 252,900 shares during the period. Bank of New York Mellon Corp owned about 1.08% of Interpublic Group of Companies worth $109,152,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Assetmark Inc. increased its stake in Interpublic Group of Companies by 3.0% in the 4th quarter. Assetmark Inc. now owns 42,496 shares of the business services provider's stock worth $1,191,000 after purchasing an additional 1,238 shares during the period. Jones Financial Companies Lllp increased its stake in Interpublic Group of Companies by 69.5% in the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider's stock worth $204,000 after purchasing an additional 2,991 shares during the period. Proficio Capital Partners LLC purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $2,325,000. Asset Management One Co. Ltd. increased its stake in Interpublic Group of Companies by 2.4% in 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 during the period. Finally, State of Alaska Department of Revenue increased its stake in Interpublic Group of Companies by 2.8% in 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 during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Interpublic Group of Companies Stock Down 1.0%

Shares of NYSE IPG traded down $0.24 during mid-day trading on Friday, hitting $24.76. 5,409,953 shares of the stock traded hands, compared to its average volume of 5,909,582. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 18.90 and a beta of 1.05. The stock has a fifty day moving average price of $24.35 and a 200-day moving average price of $25.87.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 company 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 firm's revenue was down 6.9% on a year-over-year basis. Research analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

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

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.