Elo Mutual Pension Insurance Co Sells 926 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Elo Mutual Pension Insurance Co lowered its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,070 shares of the business services provider’s stock after selling 926 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Interpublic Group of Companies were worth $991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. Hazlett Burt & Watson Inc. boosted its position in shares of Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after purchasing an additional 900 shares in the last quarter. Voisard Asset Management Group Inc. bought a new stake in Interpublic Group of Companies in the fourth quarter worth $31,000. International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth $32,000. Quest Partners LLC bought a new position in shares of Interpublic Group of Companies during the second quarter valued at $39,000. Finally, Salomon & Ludwin LLC raised its position in shares of Interpublic Group of Companies by 2,024.6% in the 1st quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,235 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $31.11 on Friday. The Interpublic Group of Companies, Inc. has a 52 week low of $27.20 and a 52 week high of $35.17. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 5.17 and a beta of 1.10. The business has a 50-day simple moving average of $31.02 and a two-hundred day simple moving average of $30.96.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 EPS. On average, 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.24%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Wall Street Analyst Weigh In

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

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.