Sumitomo Mitsui Trust Group Inc. Trims Stock Position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 923,030 shares of the business services provider's stock after selling 11,321 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Interpublic Group of Companies worth $25,069,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of Interpublic Group of Companies by 3.0% in the fourth quarter. Assetmark Inc. now owns 42,496 shares of the business services provider's stock worth $1,191,000 after acquiring an additional 1,238 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Interpublic Group of Companies by 69.5% during the 4th quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider's stock valued at $204,000 after buying an additional 2,991 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at $2,325,000. State of Alaska Department of Revenue grew its stake in Interpublic Group of Companies by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider's stock valued at $1,185,000 after acquiring an additional 1,170 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in Interpublic Group of Companies by 2.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider's stock worth $4,178,000 after acquiring an additional 3,547 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on IPG shares. Wall Street Zen started coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They set a "hold" rating on the stock. Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. Finally, Citigroup reaffirmed a "buy" rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One 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 company. According to data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of "Hold" and a consensus price target of $32.72.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG traded down $0.17 during midday trading on Friday, hitting $25.38. The company's stock had a trading volume of 4,872,664 shares, compared to its average volume of 5,865,478. The company has a market cap of $9.38 billion, a P/E ratio of 19.37 and a beta of 1.05. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The business's 50 day simple moving average is $24.35 and its 200 day simple moving average is $25.99. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. Interpublic Group of Companies had a net margin of 4.69% and a return on equity of 27.21%. The business's revenue was down 6.9% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) 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.