Northern Trust Corp Sells 378,023 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Northern Trust Corp lessened its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,861,904 shares of the business services provider’s stock after selling 378,023 shares during the quarter. Northern Trust Corp owned approximately 1.31% of Interpublic Group of Companies worth $132,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Interpublic Group of Companies by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,781,455 shares of the business services provider’s stock valued at $374,304,000 after acquiring an additional 842,925 shares during the period. Deutsche Bank AG raised its position in shares of Interpublic Group of Companies by 32.0% in the 1st quarter. Deutsche Bank AG now owns 4,972,412 shares of the business services provider’s stock valued at $135,051,000 after acquiring an additional 1,206,542 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Interpublic Group of Companies by 6.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,670,228 shares of the business services provider’s stock valued at $130,860,000 after acquiring an additional 267,879 shares during the period. Voloridge Investment Management LLC raised its position in shares of Interpublic Group of Companies by 13.7% in the 4th quarter. Voloridge Investment Management LLC now owns 2,445,498 shares of the business services provider’s stock valued at $68,523,000 after acquiring an additional 294,400 shares during the period. Finally, Brown Advisory Inc. raised its position in shares of Interpublic Group of Companies by 4.5% in the 4th quarter. Brown Advisory Inc. now owns 1,894,724 shares of the business services provider’s stock valued at $53,090,000 after acquiring an additional 81,688 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Trading Up 2.6%

Shares of Interpublic Group of Companies stock opened at $27.2260 on Friday. The firm has a 50-day moving average of $25.00 and a 200-day moving average of $25.30. The stock has a market cap of $9.97 billion, a PE ratio of 23.07 and a beta of 1.05. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.20. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. Interpublic Group of Companies’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. As a group, sell-side analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.8%. Interpublic Group of Companies’s dividend payout ratio is 111.86%.

Analyst Ratings Changes

Several analysts have commented on IPG shares. Barclays downgraded shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. JPMorgan Chase & Co. dropped their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. UBS Group dropped their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating on the stock in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.39.

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.