Cetera Investment Advisers Sells 3,446 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Cetera Investment Advisers decreased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,703 shares of the business services provider’s stock after selling 3,446 shares during the period. Cetera Investment Advisers’ holdings in Interpublic Group of Companies were worth $2,028,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brandes Investment Partners LP lifted its stake in Interpublic Group of Companies by 94.5% during the 2nd quarter. Brandes Investment Partners LP now owns 178,724 shares of the business services provider’s stock valued at $5,199,000 after acquiring an additional 86,812 shares during the period. Scientech Research LLC bought a new position in Interpublic Group of Companies during the 2nd quarter valued at about $994,000. The Manufacturers Life Insurance Company lifted its stake in Interpublic Group of Companies by 44.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,356,021 shares of the business services provider’s stock valued at $39,447,000 after acquiring an additional 417,766 shares during the period. Millennium Management LLC lifted its stake in Interpublic Group of Companies by 571.7% during the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after acquiring an additional 1,248,062 shares during the period. Finally, MBB Public Markets I LLC bought a new position in Interpublic Group of Companies during the 2nd quarter valued at about $831,000. Institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

IPG has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Macquarie lowered their price objective on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Bank of America lowered their price objective 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. Barclays reduced their target price on shares of Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Finally, Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $34.00 to $28.00 in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.44.

Interpublic Group of Companies Stock Up 1.1 %

Shares of IPG opened at $31.39 on Monday. 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 market cap of $11.85 billion, a PE ratio of 11.17, a P/E/G ratio of 5.18 and a beta of 1.09. The business has a fifty day moving average of $31.21 and a 200 day moving average of $30.79. 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 released 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 during the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.21%. 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.