Venturi Wealth Management LLC Sells 10,873 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Venturi Wealth Management LLC reduced its stake in Interpublic Group of Companies by 29.6%, selling 10,873 shares in the second quarter, resulting in holdings worth $634,000.
• Interpublic Group's recent quarterly earnings report showed an EPS of $0.75, surpassing analysts' expectations, but revenue decreased by 6.6% year-over-year.
• The company declared a quarterly dividend of $0.33, representing a 5.0% yield, with a payout ratio currently at 111.86%.

Venturi Wealth Management LLC reduced its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 29.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 25,904 shares of the business services provider's stock after selling 10,873 shares during the period. Venturi Wealth Management LLC's holdings in Interpublic Group of Companies were worth $634,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its holdings in shares of Interpublic Group of Companies by 5.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,885,384 shares of the business services provider's stock worth $377,127,000 after acquiring an additional 674,938 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Interpublic Group of Companies by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider's stock worth $374,304,000 after acquiring an additional 842,925 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Interpublic Group of Companies by 49.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider's stock worth $231,138,000 after acquiring an additional 2,797,490 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Interpublic Group of Companies by 32.0% during the 1st quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider's stock worth $135,051,000 after acquiring an additional 1,206,542 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Interpublic Group of Companies by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,867,134 shares of the business services provider's stock worth $132,191,000 after acquiring an additional 196,906 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Price Performance

IPG stock opened at $26.57 on Friday. The firm's 50-day moving average price is $26.26 and its two-hundred day moving average price is $25.17. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 22.51 and a beta of 1.09. 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 quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The company's revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities analysts predict that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio is presently 111.86%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. 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 research report on Thursday, July 10th. Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. Weiss Ratings restated a "hold (c)" rating on shares of Interpublic Group of Companies in a research report on Wednesday. Barclays upped their price target on shares of Interpublic Group of Companies from $27.50 to $28.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, 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 research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.09.

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.

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