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

Assenagon Asset Management S.A. lowered its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 69.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Interpublic Group of Companies by 75.8% in the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock valued at $31,000 after acquiring an additional 480 shares during the period. Sentry Investment Management LLC acquired a new stake in Interpublic Group of Companies in the 1st quarter valued at $31,000. OFI Invest Asset Management acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at $36,000. Raiffeisen Bank International AG acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at $42,000. Finally, GeoWealth Management LLC lifted its holdings in 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. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Stock Up 0.3%

NYSE IPG opened at $23.09 on Thursday. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. The business's fifty day simple moving average is $24.29 and its 200-day simple moving average is $26.43. The firm has a market cap of $8.54 billion, a PE ratio of 17.63 and a beta of 1.06.

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. 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 for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm earned $0.36 EPS. The company's quarterly revenue was down 6.9% compared to the same quarter last year. As a group, equities analysts anticipate 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 issued a dividend of $0.33 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.72%. Interpublic Group of Companies's dividend payout ratio is presently 100.76%.

Analyst Ratings Changes

IPG has been the topic of a number of research reports. Citigroup restated a "buy" rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Barclays decreased their price objective on Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Wall Street Zen initiated coverage on Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a "hold" rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of "Hold" and a consensus price target of $33.44.

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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