Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Stake Lessened by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC cut its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 44.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,585 shares of the business services provider's stock after selling 26,575 shares during the quarter. Summit Place Financial Advisors LLC's holdings in Interpublic Group of Companies were worth $912,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IPG. Prosperity Consulting Group LLC grew its holdings in Interpublic Group of Companies by 2.3% in the 4th quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock worth $595,000 after buying an additional 470 shares in the last quarter. Diversified Trust Co grew its holdings in Interpublic Group of Companies by 0.5% in the 1st quarter. Diversified Trust Co now owns 119,908 shares of the business services provider's stock worth $3,257,000 after buying an additional 572 shares in the last quarter. GeoWealth Management LLC grew its holdings in Interpublic Group of Companies by 20.7% in the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after buying an additional 573 shares in the last quarter. Palouse Capital Management Inc. grew its holdings in Interpublic Group of Companies by 1.1% in the 1st quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider's stock worth $1,487,000 after buying an additional 574 shares in the last quarter. Finally, Xponance Inc. grew its holdings in Interpublic Group of Companies by 1.0% in the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider's stock worth $1,677,000 after buying an additional 587 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IPG. Citigroup reissued a "buy" rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Wall Street Zen assumed coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a "hold" rating for the company. Finally, Barclays lowered Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Interpublic Group of Companies has an average 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 on Friday, reaching $25.38. 4,872,664 shares of the company traded hands, compared to its average volume of 5,863,128. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The company's 50 day moving average is $24.35 and its 200-day moving average is $25.99. The stock has a market capitalization of $9.38 billion, a PE ratio of 19.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced 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 the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company's quarterly revenue was down 6.9% compared to the same quarter last year. As a group, analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal 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 5.20%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 100.76%.

Interpublic Group of Companies 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.