Mutual of America Capital Management LLC Has $1.64 Million Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Mutual of America Capital Management LLC cut its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 33.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,216 shares of the business services provider’s stock after selling 24,853 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Interpublic Group of Companies were worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC bought a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $29,000. Voisard Asset Management Group Inc. acquired a new position in Interpublic Group of Companies during the 4th quarter worth approximately $31,000. Tobam raised its stake in Interpublic Group of Companies by 2,340.0% during the 4th quarter. Tobam now owns 1,098 shares of the business services provider’s stock worth $36,000 after buying an additional 1,053 shares during the period. MCF Advisors LLC acquired a new position in Interpublic Group of Companies during the 4th quarter worth approximately $43,000. Finally, Assetmark Inc. raised its stake in shares of Interpublic Group of Companies by 27.5% in the fourth quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock worth $56,000 after purchasing an additional 368 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on IPG. Wells Fargo & Company lowered their price objective on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered their price objective on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Bank of America reduced their target price on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $34.88.

Interpublic Group of Companies Stock Performance

IPG stock opened at $29.42 on Monday. The business has a 50 day moving average of $30.23 and a 200-day moving average of $31.41. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $40.90. The firm has a market cap of $11.10 billion, a PE ratio of 10.47, a P/E/G ratio of 3.13 and a beta of 1.12. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.18 billion. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. Interpublic Group of Companies’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.49%. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

About Interpublic Group of Companies

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.