Kintegral Advisory LLC Sells 83,613 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kintegral Advisory LLC trimmed its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 80.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,712 shares of the business services provider’s stock after selling 83,613 shares during the period. Kintegral Advisory LLC’s holdings in Interpublic Group of Companies were worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of IPG. Bank of New York Mellon Corp lifted its position in shares of Interpublic Group of Companies by 12.1% in the 1st quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock worth $459,975,000 after purchasing an additional 1,516,975 shares during the period. Norges Bank purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at about $32,620,000. Jacobs Levy Equity Management Inc. lifted its stake in Interpublic Group of Companies by 101.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock valued at $55,162,000 after buying an additional 853,287 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Interpublic Group of Companies by 12.7% in the fourth quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock worth $225,954,000 after buying an additional 777,456 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Interpublic Group of Companies in the 1st quarter valued at approximately $20,493,000. Institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IPG. JPMorgan Chase & Co. cut their price objective on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Macquarie dropped their target price on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Morgan Stanley downgraded Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Bank of America dropped their target price on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Finally, Barclays lowered their price target on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average target price of $34.13.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock traded down $0.14 during trading on Wednesday, reaching $32.36. 1,605,076 shares of the company’s stock were exchanged, compared to its average volume of 3,898,484. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $35.17. The firm’s 50-day moving average price is $30.15 and its 200 day moving average price is $31.03. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07. The company has a market cap of $12.21 billion, a P/E ratio of 11.51, a PEG ratio of 3.29 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

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.