Praxis Investment Management Inc. Sells 9,290 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Praxis Investment Management Inc. decreased its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 45.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,340 shares of the business services provider’s stock after selling 9,290 shares during the period. Praxis Investment Management Inc.’s holdings in Interpublic Group of Companies were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. State of Alaska Department of Revenue raised its position in Interpublic Group of Companies by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider’s stock valued at $1,185,000 after purchasing an additional 1,170 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Interpublic Group of Companies by 350.7% during the 1st quarter. Avior Wealth Management LLC now owns 8,798 shares of the business services provider’s stock worth $239,000 after acquiring an additional 6,846 shares during the period. Nilsine Partners LLC purchased a new position in shares of Interpublic Group of Companies during the 1st quarter worth approximately $276,000. Asset Management One Co. Ltd. grew its holdings in shares of Interpublic Group of Companies by 2.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider’s stock worth $4,178,000 after acquiring an additional 3,547 shares during the period. Finally, Moran Wealth Management LLC grew its holdings in shares of Interpublic Group of Companies by 26.2% during the 1st quarter. Moran Wealth Management LLC now owns 178,973 shares of the business services provider’s stock worth $4,861,000 after acquiring an additional 37,168 shares during the period. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IPG. Zacks Research downgraded Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Interpublic Group of Companies in a report on Wednesday, October 8th. Barclays upped their target price on Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Finally, UBS Group reduced their target price on 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. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.09.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock opened at $26.42 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $9.68 billion, a P/E ratio of 22.39 and a beta of 1.09. The stock’s 50 day moving average is $26.47 and its 200 day moving average is $25.17. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.20. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 EPS. On average, equities research analysts predict that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.32 annualized dividend and a yield of 5.0%. Interpublic Group of Companies’s dividend payout ratio is 111.86%.

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.