The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 14.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 476,168 shares of the business services provider’s stock after selling 77,552 shares during the quarter. Citigroup Inc.’s holdings in Interpublic Group of Companies were worth $15,061,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in Interpublic Group of Companies during the third quarter valued at approximately $26,000. Benjamin Edwards Inc. raised its stake in Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after buying an additional 375 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Interpublic Group of Companies during the third quarter valued at approximately $32,000. Hazlett Burt & Watson Inc. raised its stake in Interpublic Group of Companies by 652.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after buying an additional 900 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $30.47 on Thursday. The business has a 50 day simple moving average of $30.34 and a 200 day simple moving average of $30.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 14.37 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the company posted $0.70 EPS. On average, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 62.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays lowered their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Macquarie reaffirmed a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Finally, BNP Paribas lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus price target of $30.57.

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.