Hsbc Holdings PLC Has $28.40 Million Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• HSBC Holdings PLC has reduced its stake in Interpublic Group of Companies by 21.6%, now owning 1,047,800 shares valued at approximately $28.4 million.
• Brokerages have recently adjusted their ratings for Interpublic, with JPMorgan reducing its price target from $35.00 to $33.00 and UBS lowering its target from $27.00 to $25.60.
• Interpublic Group is set to pay a quarterly dividend of $0.33 per share on September 16th, representing a 4.8% yield and a payout ratio of 111.86%.

Hsbc Holdings PLC lessened its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 21.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,047,800 shares of the business services provider's stock after selling 289,515 shares during the quarter. Hsbc Holdings PLC owned 0.28% of Interpublic Group of Companies worth $28,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of Interpublic Group of Companies in the first quarter valued at approximately $1,480,000. Asset Management One Co. Ltd. boosted its holdings in shares of Interpublic Group of Companies by 2.4% in the first quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider's stock valued at $4,178,000 after buying an additional 3,547 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Interpublic Group of Companies by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider's stock valued at $1,185,000 after buying an additional 1,170 shares during the period. LPL Financial LLC lifted its position in shares of Interpublic Group of Companies by 7.5% in the first quarter. LPL Financial LLC now owns 500,207 shares of the business services provider's stock worth $13,586,000 after purchasing an additional 34,753 shares in the last quarter. Finally, NBC Securities Inc. lifted its position 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 worth $144,000 after purchasing an additional 5,321 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

Shares of IPG traded down $0.1040 during trading hours on Monday, hitting $27.1560. The company had a trading volume of 5,615,288 shares, compared to its average volume of 5,458,931. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $25.07 and a 200-day moving average of $25.26. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month high of $33.05. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 23.01 and a beta of 1.05.

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 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 business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the company posted $0.61 earnings per share. Interpublic Group of Companies's revenue was down 6.6% compared to the same quarter last year. Equities analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 4.9%. Interpublic Group of Companies's payout ratio is presently 111.86%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. dropped 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 report on Thursday, July 10th. UBS Group dropped their price target on shares of 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. 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. Finally, Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $32.39.

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.