Gulf International Bank UK Ltd Sells 11,881 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Interpublic Group of Companies by 39.5%, now owning 18,200 shares worth $494,000.
• Several analysts have adjusted their price targets on Interpublic Group, with UBS lowering its target from $27.00 to $25.60 and a consensus rating of "Hold" with an average price target of $32.39.
• Interpublic Group reported a quarterly EPS of $0.75, exceeding estimates and generated revenue of $2.17 billion, although down 6.6% year-over-year.

Gulf International Bank UK Ltd trimmed its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 39.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,200 shares of the business services provider's stock after selling 11,881 shares during the quarter. Gulf International Bank UK Ltd's holdings in Interpublic Group of Companies were worth $494,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IPG. Russell Investments Group Ltd. lifted its position in Interpublic Group of Companies by 24.6% in the 1st quarter. Russell Investments Group Ltd. now owns 393,693 shares of the business services provider's stock valued at $10,547,000 after acquiring an additional 77,828 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in Interpublic Group of Companies by 4.0% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 121,580 shares of the business services provider's stock valued at $3,286,000 after acquiring an additional 4,659 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Interpublic Group of Companies by 8.0% in the 1st quarter. Public Sector Pension Investment Board now owns 57,809 shares of the business services provider's stock valued at $1,570,000 after acquiring an additional 4,294 shares in the last quarter. Todd Asset Management LLC bought a new position in Interpublic Group of Companies in the 1st quarter valued at approximately $25,107,000. Finally, CCM Investment Group LLC bought a new position in Interpublic Group of Companies in the 1st quarter valued at approximately $907,000. 98.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IPG has been the subject of a number of research reports. JPMorgan Chase & Co. decreased 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. Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. UBS Group decreased their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Finally, Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $32.39.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG traded down $0.0950 during midday trading on Thursday, hitting $26.5150. The company had a trading volume of 1,427,817 shares, compared to its average volume of 6,873,958. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 22.52 and a beta of 1.05. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The company has a fifty day moving average of $24.86 and a two-hundred day moving average of $25.32.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.55 by $0.20. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.Interpublic Group of Companies's revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. On average, equities research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 5.0%. Interpublic Group of Companies's dividend payout ratio is currently 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.