Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 17.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,012 shares of the business services provider's stock after selling 14,163 shares during the quarter. M&T Bank Corp's holdings in Interpublic Group of Companies were worth $1,819,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Sentry Investment Management LLC acquired a new stake in Interpublic Group of Companies during the 1st quarter valued at $31,000. Raiffeisen Bank International AG acquired a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at $42,000. FNY Investment Advisers LLC purchased a new stake in Interpublic Group of Companies during the 1st quarter worth about $44,000. Grove Bank & Trust raised its stake in Interpublic Group of Companies by 1,219.5% in the 1st quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock valued at $59,000 after purchasing an additional 2,000 shares during the last quarter. 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 Trading Down 0.0%

IPG stock traded down $0.01 during midday trading on Monday, reaching $24.74. 6,846,900 shares of the company's stock traded hands, compared to its average volume of 6,994,693. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The business has a 50-day moving average price of $24.35 and a two-hundred day moving average price of $25.83. The company has a market capitalization of $9.15 billion, a P/E ratio of 18.89 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.98 billion. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The firm's revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. Equities research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio is presently 100.76%.

Wall Street Analysts Forecast Growth

IPG has been the topic of several recent analyst reports. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Citigroup restated a "buy" rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. 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. Finally, JPMorgan Chase & Co. decreased their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of "Hold" and an average target price of $32.06.

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.