Edgestream Partners L.P. Cuts Stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Edgestream Partners L.P. lessened its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 79.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,396 shares of the business services provider's stock after selling 44,876 shares during the quarter. Edgestream Partners L.P.'s holdings in Interpublic Group of Companies were worth $310,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sentry Investment Management LLC bought a new stake in Interpublic Group of Companies in the 1st quarter worth approximately $31,000. Raiffeisen Bank International AG bought a new stake in Interpublic Group of Companies in the fourth quarter worth $42,000. FNY Investment Advisers LLC purchased a new stake in Interpublic Group of Companies during the first quarter valued at $44,000. Grove Bank & Trust lifted its position in Interpublic Group of Companies by 1,219.5% during the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock valued at $59,000 after purchasing an additional 2,000 shares during the last quarter. Finally, GeoWealth Management LLC grew its stake in shares of Interpublic Group of Companies by 20.7% in the 4th 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. Hedge funds and other institutional investors own 98.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup reaffirmed a "buy" rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Wall Street Zen began coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $32.06.

Interpublic Group of Companies Stock Performance

IPG stock opened at $24.20 on Monday. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 18.47 and a beta of 1.05. The business's fifty day simple moving average is $24.28 and its two-hundred day simple moving average is $25.71. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The firm's revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS. 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. Stockholders of record on Monday, June 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio is presently 100.76%.

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.

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