Oak Thistle LLC Sells 19,324 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Oak Thistle LLC reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 71.2% in the first quarter, HoldingsChannel.com reports. The firm owned 7,800 shares of the business services provider’s stock after selling 19,324 shares during the period. Oak Thistle LLC’s holdings in Interpublic Group of Companies were worth $255,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth approximately $29,000. Voisard Asset Management Group Inc. purchased a new position in shares of Interpublic Group of Companies in the fourth quarter worth $31,000. Tobam lifted its holdings in shares of Interpublic Group of Companies by 2,340.0% in the fourth quarter. Tobam now owns 1,098 shares of the business services provider’s stock worth $36,000 after buying an additional 1,053 shares in the last quarter. MCF Advisors LLC purchased a new position in shares of Interpublic Group of Companies in the fourth quarter worth $43,000. Finally, Assetmark Inc. lifted its holdings in shares of Interpublic Group of Companies by 27.5% in the fourth quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock worth $56,000 after buying an additional 368 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Bank of America lowered their target price on shares of Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.00.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock traded down $1.01 during mid-day trading on Monday, reaching $28.08. 4,420,342 shares of the company’s stock traded hands, compared to its average volume of 3,901,701. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $40.90. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 3.09 and a beta of 1.12. 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 stock has a 50 day moving average of $30.64 and a two-hundred day moving average of $31.67.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results 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. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Tuesday, June 4th. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Interpublic Group of Companies Company Profile

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.