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Victory Capital Management Inc. Sells 571,092 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Interpublic Group of Companies logo with Business Services background

Victory Capital Management Inc. lessened its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 90.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 57,431 shares of the business services provider's stock after selling 571,092 shares during the period. Victory Capital Management Inc.'s holdings in Interpublic Group of Companies were worth $1,560,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Prosperity Consulting Group LLC grew its stake in shares of Interpublic Group of Companies by 2.3% in the 4th quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock valued at $595,000 after purchasing an additional 470 shares during the period. Penserra Capital Management LLC grew its stake in shares of Interpublic Group of Companies by 3.8% in the 1st quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider's stock valued at $410,000 after purchasing an additional 552 shares during the period. Diversified Trust Co grew its stake in shares of Interpublic Group of Companies by 0.5% in the 1st quarter. Diversified Trust Co now owns 119,908 shares of the business services provider's stock valued at $3,257,000 after purchasing an additional 572 shares during the period. GeoWealth Management LLC grew 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 during the period. Finally, Palouse Capital Management Inc. grew its stake in shares of Interpublic Group of Companies by 1.1% in the 1st quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider's stock valued at $1,487,000 after purchasing an additional 574 shares during the period. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Trading Down 1.5%

Interpublic Group of Companies stock traded down $0.37 during mid-day trading on Friday, hitting $24.23. 4,219,129 shares of the company's stock were exchanged, compared to its average volume of 7,060,387. The firm has a market capitalization of $8.87 billion, a P/E ratio of 20.53 and a beta of 1.05. 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 quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The company's 50 day simple moving average is $24.34 and its 200-day simple moving average is $25.60.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued 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. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business posted $0.61 EPS. The firm's revenue was down 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 111.86%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IPG. Wall Street Zen began coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating on the stock. Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. 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 report on Thursday, July 10th. Citigroup restated a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. Finally, UBS Group decreased their price target on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Interpublic Group of Companies currently has a consensus rating of "Hold" and a consensus target price of $32.39.

Read Our Latest Stock Analysis on Interpublic Group of Companies

About Interpublic Group of Companies

(Free Report)

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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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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