abrdn plc Has $6.35 Million Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

abrdn plc lessened its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 195,416 shares of the business services provider’s stock after selling 8,751 shares during the quarter. abrdn plc’s holdings in The Interpublic Group of Companies were worth $6,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new stake in shares of The Interpublic Group of Companies in the first quarter worth $42,000. AllSquare Wealth Management LLC acquired a new stake in shares of The Interpublic Group of Companies in the first quarter worth $43,000. Rockefeller Capital Management L.P. grew its stake in shares of The Interpublic Group of Companies by 74.9% in the second quarter. Rockefeller Capital Management L.P. now owns 2,062 shares of the business services provider’s stock worth $66,000 after acquiring an additional 883 shares during the last quarter. Pinebridge Investments L.P. acquired a new stake in shares of The Interpublic Group of Companies in the first quarter worth $64,000. Finally, Bbva USA acquired a new stake in shares of The Interpublic Group of Companies in the second quarter worth $101,000.

Shares of NYSE IPG opened at $36.02 on Wednesday. The stock has a market cap of $14.18 billion, a PE ratio of 19.16, a PEG ratio of 1.29 and a beta of 1.06. The business has a fifty day moving average of $36.04 and a two-hundred day moving average of $33.07. The Interpublic Group of Companies, Inc. has a 52-week low of $15.92 and a 52-week high of $37.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.00 and a current ratio of 1.00.

The Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Tuesday, July 20th. The business services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.28. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.06 billion. The Interpublic Group of Companies had a return on equity of 34.27% and a net margin of 7.91%. The business’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the business earned $0.23 earnings per share. Analysts predict that The Interpublic Group of Companies, Inc. will post 2.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.00%. The Interpublic Group of Companies’s payout ratio is presently 62.43%.

In other The Interpublic Group of Companies news, Chairman Michael Isor Roth sold 200,000 shares of The Interpublic Group of Companies stock in a transaction on Wednesday, July 28th. The stock was sold at an average price of $35.27, for a total transaction of $7,054,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on the stock. Macquarie raised their price objective on shares of The Interpublic Group of Companies from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, July 22nd. BMO Capital Markets raised their price objective on shares of The Interpublic Group of Companies from $34.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, July 22nd. Wells Fargo & Company raised their price objective on shares of The Interpublic Group of Companies from $36.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 22nd. Morgan Stanley raised their target price on The Interpublic Group of Companies from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 22nd. Finally, Bank of America raised The Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $27.00 to $37.00 in a research report on Thursday, July 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, The Interpublic Group of Companies currently has an average rating of “Buy” and an average target price of $32.75.

The Interpublic Group of Companies Company Profile

Interpublic Group of Cos., Inc engages in the provision of advertising and marketing services. The firm specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates through the following segments: Integrated Agency Network (IAN) and Constituency Management Group (CMG).

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Institutional Ownership by Quarter for The Interpublic Group of Companies (NYSE:IPG)

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