JPMorgan Chase & Co. Sells 197,349 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

JPMorgan Chase & Co. trimmed its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 6.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,706,067 shares of the business services provider’s stock after selling 197,349 shares during the quarter. JPMorgan Chase & Co.’s holdings in Interpublic Group of Companies were worth $85,593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rosenberg Matthew Hamilton grew its stake in shares of Interpublic Group of Companies by 9.7% during the third quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 365 shares during the last quarter. Benjamin Edwards Inc. raised 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 acquiring an additional 375 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Interpublic Group of Companies by 2.9% during the third quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock valued at $445,000 after acquiring an additional 399 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Interpublic Group of Companies by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 405 shares during the last quarter. Finally, Empirical Finance LLC increased its position in Interpublic Group of Companies by 1.3% in the third quarter. Empirical Finance LLC now owns 32,609 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 409 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. UBS Group cut shares of 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 research report on Thursday, September 12th. Barclays reduced their price target on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Macquarie reissued a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, StockNews.com started coverage on Interpublic Group of Companies in a research report on Friday, December 27th. They set a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average price target of $31.71.

Interpublic Group of Companies Stock Performance

IPG opened at $28.13 on Friday. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 13.27 and a beta of 1.10. The business’s 50-day moving average price is $29.33 and its two-hundred day moving average price is $30.17. The Interpublic Group of Companies, Inc. has a 1 year low of $26.88 and a 1 year high of $35.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. Equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.69%. Interpublic Group of Companies’s payout ratio is currently 62.26%.

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.