Toronto Dominion Bank cut its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 3.1% in the first quarter, HoldingsChannel.com reports. The fund owned 286,567 shares of the business services provider’s stock after selling 9,187 shares during the period. Toronto Dominion Bank’s holdings in The Interpublic Group of Companies were worth $8,369,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Quadrant L P CA purchased a new stake in The Interpublic Group of Companies in the first quarter worth approximately $26,000. Capital Asset Advisory Services LLC purchased a new position in shares of The Interpublic Group of Companies in the 4th quarter worth $32,000. West Oak Capital LLC boosted its stake in shares of The Interpublic Group of Companies by 74.3% in the 1st quarter. West Oak Capital LLC now owns 1,325 shares of the business services provider’s stock worth $39,000 after buying an additional 565 shares during the last quarter. City Holding Co. bought a new stake in shares of The Interpublic Group of Companies in the first quarter worth $40,000. Finally, AllSquare Wealth Management LLC purchased a new stake in The Interpublic Group of Companies during the first quarter valued at $43,000. 98.57% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on IPG shares. Wells Fargo & Company boosted their price target on The Interpublic Group of Companies from $26.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, April 29th. BMO Capital Markets downgraded shares of The Interpublic Group of Companies from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $30.00 to $34.00 in a report on Wednesday, April 28th. Finally, Morgan Stanley boosted their target price on shares of The Interpublic Group of Companies from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, February 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $29.00.
The Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, April 28th. The business services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.29. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.95 billion. The Interpublic Group of Companies had a net margin of 4.89% and a return on equity of 29.27%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. On average, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 21st. Investors of record on Monday, June 7th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, June 4th. The Interpublic Group of Companies’s dividend payout ratio is currently 62.43%.
In related news, Chairman Michael Isor Roth sold 100,000 shares of The Interpublic Group of Companies stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $32.49, for a total transaction of $3,249,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary Guilfoile sold 12,075 shares of the business’s stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $33.45, for a total value of $403,908.75. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
About The Interpublic Group of Companies
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data management services.
Further Reading: Earnings Per Share
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