Modera Wealth Management LLC Sells 18,430 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Modera Wealth Management LLC lessened its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 864,060 shares of the business services provider's stock after selling 18,430 shares during the period. Modera Wealth Management LLC owned 0.23% of Interpublic Group of Companies worth $23,468,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sentry Investment Management LLC purchased a new position in shares of Interpublic Group of Companies during the 1st quarter valued at $31,000. Raiffeisen Bank International AG purchased a new stake in Interpublic Group of Companies during the 4th quarter worth about $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 lifted its holdings in Interpublic Group of Companies by 1,219.5% during the 1st quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock worth $59,000 after purchasing an additional 2,000 shares in the last quarter. Finally, GeoWealth Management LLC lifted its holdings in Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after purchasing an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

NYSE IPG traded down $0.37 during trading on Friday, reaching $24.23. The company's stock had a trading volume of 4,219,129 shares, compared to its average volume of 7,169,204. The stock has a market capitalization of $8.87 billion, a PE ratio of 20.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a fifty day moving average of $24.35 and a 200 day moving average of $25.58. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.55 by $0.20. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%. The company's revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. Analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. Interpublic Group of Companies's dividend payout ratio is 111.86%.

Analyst Ratings Changes

A number of analysts recently issued reports on IPG shares. UBS Group dropped their price objective on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen started coverage on Interpublic Group of Companies in a report on Tuesday, May 20th. They set a "hold" rating on the stock. 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, June 25th. JPMorgan Chase & Co. dropped their price objective on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. Finally, Citigroup reissued a "buy" rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $32.39.

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.