Sumitomo Mitsui DS Asset Management Company Ltd Cuts Position in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in Interpublic Group of Companies by 31.3%, owning 60,711 shares worth approximately $1.49 million after selling 27,714 shares in the second quarter.
• Analyst ratings for Interpublic Group are mixed, with Barclays downgrading the stock to an "equal weight" rating and setting a price target of $27.50, while J.P. Morgan Chase maintains an "overweight" rating with a price target of $33.00.
• Interpublic Group reported a quarterly earnings per share of $0.75, exceeding analyst estimates, although revenue declined 6.6% year-over-year at $2.17 billion.

Sumitomo Mitsui DS Asset Management Company Ltd decreased its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 31.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,711 shares of the business services provider's stock after selling 27,714 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Interpublic Group of Companies were worth $1,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IPG. Goldman Sachs Group Inc. raised its position in Interpublic Group of Companies by 49.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider's stock valued at $231,138,000 after purchasing an additional 2,797,490 shares during the last quarter. Pentwater Capital Management LP raised its position in Interpublic Group of Companies by 568.6% in the 1st quarter. Pentwater Capital Management LP now owns 2,340,000 shares of the business services provider's stock valued at $63,554,000 after purchasing an additional 1,990,000 shares during the last quarter. Calamos Advisors LLC purchased a new stake in Interpublic Group of Companies in the 1st quarter valued at $46,172,000. Alliancebernstein L.P. raised its position in Interpublic Group of Companies by 149.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,631,682 shares of the business services provider's stock valued at $71,476,000 after purchasing an additional 1,574,777 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Interpublic Group of Companies by 1,475.5% in the 1st quarter. Jane Street Group LLC now owns 1,328,121 shares of the business services provider's stock valued at $36,072,000 after purchasing an additional 1,243,823 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 0.5%

Shares of Interpublic Group of Companies stock traded down $0.12 during mid-day trading on Monday, hitting $25.53. 5,024,227 shares of the stock were exchanged, compared to its average volume of 5,231,864. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 21.64 and a beta of 1.09. The company has a 50-day simple moving average of $25.86 and a 200 day simple moving average of $25.15. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period last year, the company earned $0.61 earnings per share. The company's quarterly revenue was down 6.6% on a year-over-year basis. Research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors 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 annualized dividend and a dividend yield of 5.2%. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 111.86%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. UBS Group cut their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $32.01.

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.