The Interpublic Group of Companies, Inc. (NYSE:IPG) Holdings Decreased by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,602 shares of the business services provider’s stock after selling 1,292 shares during the period. Edgestream Partners L.P.’s holdings in Interpublic Group of Companies were worth $2,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Interpublic Group of Companies in the fourth quarter valued at $29,000. Voisard Asset Management Group Inc. acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at about $31,000. Tobam boosted its position in shares of Interpublic Group of Companies by 2,340.0% during the 4th quarter. Tobam now owns 1,098 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 1,053 shares in the last quarter. Salomon & Ludwin LLC grew its stake in shares of Interpublic Group of Companies by 2,024.6% in the 1st quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Interpublic Group of Companies in the 1st quarter worth approximately $42,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

IPG stock traded down $0.06 during mid-day trading on Tuesday, reaching $29.61. 441,487 shares of the stock traded hands, compared to its average volume of 3,885,631. The Interpublic Group of Companies, Inc. has a 52 week low of $27.20 and a 52 week high of $35.24. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $11.18 billion, a PE ratio of 10.56, a P/E/G ratio of 3.15 and a beta of 1.12. The business has a 50-day moving average of $30.10 and a two-hundred day moving average of $31.29.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. Interpublic Group of Companies’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. As a group, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.46%. Interpublic Group of Companies’s payout ratio is 46.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IPG. JPMorgan Chase & Co. reduced their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $34.00 to $28.00 in a report on Monday. Wells Fargo & Company dropped their price target on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, Bank of America reduced their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus target price of $34.25.

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.