The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 47.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 117,726 shares of the business services provider’s stock after purchasing an additional 38,079 shares during the quarter. Amalgamated Bank’s holdings in Interpublic Group of Companies were worth $3,425,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in shares of Interpublic Group of Companies by 15.0% in the first quarter. BNP Paribas Financial Markets now owns 989,318 shares of the business services provider’s stock valued at $32,281,000 after purchasing an additional 129,215 shares in the last quarter. Norges Bank purchased a new position in Interpublic Group of Companies during the fourth quarter worth $32,620,000. Alaska Permanent Fund Corp raised its holdings in shares of Interpublic Group of Companies by 305.6% in the first quarter. Alaska Permanent Fund Corp now owns 54,129 shares of the business services provider’s stock worth $1,766,000 after acquiring an additional 40,785 shares during the last quarter. Boston Trust Walden Corp lifted its position in shares of Interpublic Group of Companies by 3.0% in the second quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after acquiring an additional 34,965 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Interpublic Group of Companies by 68.0% during the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock valued at $3,949,000 after acquiring an additional 48,996 shares during the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America decreased their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. decreased their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Morgan Stanley lowered Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, Macquarie lowered their price objective on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $33.00.

Interpublic Group of Companies Stock Performance

NYSE:IPG opened at $31.11 on Monday. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $35.17. The firm’s 50 day moving average is $31.02 and its two-hundred day moving average is $30.94. The company has a market cap of $11.74 billion, a P/E ratio of 11.07, a P/E/G ratio of 5.17 and a beta of 1.10. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the company posted $0.74 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

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.