The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. reduced its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 12.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,728 shares of the business services provider’s stock after selling 2,510 shares during the period. First Trust Direct Indexing L.P.’s holdings in Interpublic Group of Companies were worth $561,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. increased its position in shares of 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 worth $26,000 after purchasing an additional 375 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Interpublic Group of Companies by 652.2% during 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 during the last quarter. International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies during the 2nd quarter worth $32,000. EverSource Wealth Advisors LLC grew its holdings in shares of Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after buying an additional 405 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Interpublic Group of Companies in the second quarter valued at about $39,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $29.48 on Friday. The firm has a market cap of $10.98 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 4.92 and a beta of 1.10. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 52 week low of $28.00 and a 52 week high of $35.17. The business’s fifty day simple moving average is $31.15 and its 200-day simple moving average is $30.70.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. Interpublic Group of Companies’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.48%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.26%.

Analyst Ratings Changes

Several analysts recently issued reports on IPG shares. StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Thursday. Bank of America dropped their price target 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. Morgan Stanley downgraded Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and an average target price of $30.57.

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.