Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 69.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,255 shares of the business services provider's stock after selling 49,232 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Interpublic Group of Companies were worth $577,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Allworth Financial LP grew its position in shares of Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after buying an additional 480 shares in the last quarter. Sentry Investment Management LLC acquired a new position in Interpublic Group of Companies during the 1st quarter worth $31,000. OFI Invest Asset Management acquired a new position in Interpublic Group of Companies during the 4th quarter worth $36,000. Raiffeisen Bank International AG bought a new stake in shares of Interpublic Group of Companies in the 4th quarter worth about $42,000. Finally, GeoWealth Management LLC raised 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 valued at $94,000 after purchasing an additional 573 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen began coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. Citigroup restated a "buy" rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Finally, Barclays lowered their target price on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $33.44.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock traded up $0.31 during midday trading on Friday, reaching $23.39. 17,282,197 shares of the stock traded hands, compared to its average volume of 5,669,131. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 17.85 and a beta of 1.06. The firm has a fifty day moving average price of $24.25 and a two-hundred day moving average price of $26.32.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business's revenue was down 6.9% on a year-over-year basis. On average, 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.33 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.64%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 100.76%.

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.