Interpublic Group of Companies, Inc. (The) $IPG Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in Interpublic Group of Companies by 17.2%, selling 98,990 shares to now hold 475,712 shares valued at approximately $11.6 million.
• Interpublic Group reported $0.75 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $0.55, although overall revenue decreased by 6.6% year-over-year.
• The company's dividend payout ratio stands at 111.86%, following a quarterly dividend of $0.33 per share, indicating a yield of 5.0%.

TD Asset Management Inc lowered its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 17.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,712 shares of the business services provider's stock after selling 98,990 shares during the period. TD Asset Management Inc owned about 0.13% of Interpublic Group of Companies worth $11,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new stake in Interpublic Group of Companies in the 1st quarter valued at about $1,480,000. Sound Income Strategies LLC increased its holdings in shares of Interpublic Group of Companies by 5.6% in the 2nd quarter. Sound Income Strategies LLC now owns 457,333 shares of the business services provider's stock valued at $11,196,000 after acquiring an additional 24,258 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of 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 valued at $4,178,000 after acquiring an additional 3,547 shares during the last quarter. Shell Asset Management Co. increased its holdings in shares of Interpublic Group of Companies by 42.1% in the 2nd quarter. Shell Asset Management Co. now owns 63,315 shares of the business services provider's stock valued at $1,550,000 after acquiring an additional 18,759 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of 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 valued at $1,185,000 after acquiring an additional 1,170 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Stock Up 0.3%

Shares of NYSE IPG opened at $26.42 on Friday. The stock has a market cap of $9.68 billion, a PE ratio of 22.39 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The business has a 50-day moving average price of $26.47 and a 200 day moving average price of $25.17.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The firm had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The business's revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. Equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 111.86%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays increased their price objective on Interpublic Group of Companies from $27.50 to $28.00 and gave the company an "equal weight" rating in a report on Tuesday, October 7th. Wall Street Zen upgraded Interpublic Group of Companies to a "hold" rating in a report on Saturday, August 16th. UBS Group dropped their price objective on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Finally, Zacks Research cut Interpublic Group of Companies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, Interpublic Group of Companies has an average rating of "Hold" and an average target price of $32.09.

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.

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