Northern Trust Corp Decreases Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Northern Trust Corp reduced its stake in Interpublic Group of Companies by 7.2%, selling 378,023 shares, and now holds approximately 1.31% of the company's stock valued at $132 million.
• Interpublic Group recently announced a quarterly dividend of $0.33, representing an annualized dividend yield of 4.8%, with a payout ratio of 111.86%.
• Analysts have adjusted target prices for Interpublic Group, with Barclays reducing their target from $34.00 to $27.50 while maintaining a "equal weight" rating.

Northern Trust Corp reduced its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,861,904 shares of the business services provider's stock after selling 378,023 shares during the quarter. Northern Trust Corp owned approximately 1.31% of Interpublic Group of Companies worth $132,049,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of IPG. Brooklyn Investment Group boosted its stake in Interpublic Group of Companies by 20.0% during the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock worth $64,000 after acquiring an additional 391 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its stake in Interpublic Group of Companies by 42.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 48,931 shares of the business services provider's stock worth $1,329,000 after acquiring an additional 14,468 shares in the last quarter. Brandywine Global Investment Management LLC boosted its stake in Interpublic Group of Companies by 14.7% during the first quarter. Brandywine Global Investment Management LLC now owns 883,477 shares of the business services provider's stock worth $23,995,000 after acquiring an additional 113,155 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Interpublic Group of Companies by 24.6% during the first quarter. Russell Investments Group Ltd. now owns 393,693 shares of the business services provider's stock worth $10,547,000 after acquiring an additional 77,828 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its stake in Interpublic Group of Companies by 4.0% during the first quarter. Resona Asset Management Co. Ltd. now owns 121,580 shares of the business services provider's stock worth $3,286,000 after acquiring an additional 4,659 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Stock Down 0.4%

Shares of IPG stock traded down $0.1040 on Monday, hitting $27.1560. The stock had a trading volume of 5,615,288 shares, compared to its average volume of 5,458,931. The business has a 50 day moving average of $25.07 and a 200 day moving average of $25.26. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 23.01 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. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its earnings results 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. 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 during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. As a group, analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed 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. This represents a $1.32 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is 111.86%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. 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. dropped their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. UBS Group dropped their price objective 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. Finally, Barclays lowered shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $32.39.

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.