Manning & Napier Advisors LLC Sells 31,901 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Manning & Napier Advisors LLC decreased its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 55.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,706 shares of the business services provider's stock after selling 31,901 shares during the period. Manning & Napier Advisors LLC's holdings in Interpublic Group of Companies were worth $698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Canada Pension Plan Investment Board raised its stake in Interpublic Group of Companies by 139.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider's stock valued at $370,157,000 after acquiring an additional 7,693,636 shares during the period. Amundi increased its stake in shares of Interpublic Group of Companies by 133.6% in the fourth quarter. Amundi now owns 5,402,201 shares of the business services provider's stock worth $150,393,000 after purchasing an additional 3,089,387 shares in the last quarter. Magnetar Financial LLC raised its position in shares of Interpublic Group of Companies by 12,548.6% in the fourth quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider's stock valued at $67,955,000 after purchasing an additional 2,406,073 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at approximately $51,794,000. Finally, First Trust Advisors LP lifted its stake in shares of Interpublic Group of Companies by 13.0% during the 4th quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider's stock valued at $363,584,000 after buying an additional 1,492,019 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IPG shares. Barclays cut Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $34.00 to $27.50 in a report on Wednesday. Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a "hold" rating on the stock. Finally, Citigroup reaffirmed 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $32.72.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG traded down $0.55 during trading on Wednesday, reaching $24.14. 9,246,017 shares of the company traded hands, compared to its average volume of 5,773,775. The firm has a 50 day simple moving average of $24.24 and a 200-day simple moving average of $26.24. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The stock has a market capitalization of $8.93 billion, a PE ratio of 18.43 and a beta of 1.06. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. Interpublic Group of Companies's revenue for the quarter was down 6.9% compared to the same quarter last year. Equities research 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.47%. Interpublic Group of Companies's payout ratio is currently 100.76%.

Interpublic Group of Companies Company 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.