Lmcg Investments LLC Cuts Stock Position in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Lmcg Investments LLC reduced its stake in Interpublic Group of Companies by 24.6% during the 2nd quarter, now owning 31,478 shares worth approximately $771,000.
• Interpublic Group recently announced a quarterly dividend of $0.33 per share, representing a 5.1% yield, but has a high dividend payout ratio of 111.86%.
• IPG's stock is currently trading at $26.11, down 1.7%, with a twelve-month high of $33.05 and notable recent earnings surpassing analyst expectations.

Lmcg Investments LLC lessened its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 24.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,478 shares of the business services provider's stock after selling 10,281 shares during the quarter. Lmcg Investments LLC's holdings in Interpublic Group of Companies were worth $771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in Interpublic Group of Companies by 17.6% during the 1st quarter. Farther Finance Advisors LLC now owns 19,726 shares of the business services provider's stock worth $515,000 after purchasing an additional 2,953 shares during the last quarter. SG Americas Securities LLC boosted its stake in Interpublic Group of Companies by 462.1% during the 1st quarter. SG Americas Securities LLC now owns 114,134 shares of the business services provider's stock worth $3,100,000 after purchasing an additional 93,829 shares during the last quarter. CX Institutional acquired a new stake in Interpublic Group of Companies during the 1st quarter worth $179,000. Palouse Capital Management Inc. boosted its stake in Interpublic Group of Companies by 1.1% during the 1st quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider's stock worth $1,487,000 after purchasing an additional 574 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in Interpublic Group of Companies by 2.1% during the 1st quarter. Sound Income Strategies LLC now owns 433,075 shares of the business services provider's stock worth $11,762,000 after purchasing an additional 9,026 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Trading Down 1.7%

Shares of IPG stock opened at $26.11 on Friday. The company's 50-day moving average price is $26.30 and its 200-day moving average price is $25.16. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month 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 0.78. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 22.13 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The company had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. Interpublic Group of Companies's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities analysts predict that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.1%. Interpublic Group of Companies's dividend payout ratio is presently 111.86%.

Wall Street Analyst Weigh In

IPG has been the topic of several recent research reports. UBS Group lowered their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Barclays lifted their target price on shares of Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. lowered their price target on shares of 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. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Interpublic Group of Companies in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $32.09.

About Interpublic Group of Companies

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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