Quantbot Technologies LP Sells 48,000 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Quantbot Technologies LP lessened its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 19.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 200,650 shares of the business services provider’s stock after selling 48,000 shares during the period. Quantbot Technologies LP owned about 0.05% of Interpublic Group of Companies worth $6,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IPG. Millennium Management LLC raised its holdings in Interpublic Group of Companies by 571.7% in the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after acquiring an additional 1,248,062 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Interpublic Group of Companies by 19.8% in the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after purchasing an additional 899,332 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Interpublic Group of Companies by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after purchasing an additional 828,150 shares during the last quarter. Swedbank AB purchased a new stake in shares of Interpublic Group of Companies during the first quarter valued at $20,493,000. Finally, Squarepoint Ops LLC boosted its position in shares of Interpublic Group of Companies by 168.3% during the second quarter. Squarepoint Ops LLC now owns 831,434 shares of the business services provider’s stock valued at $24,186,000 after buying an additional 521,546 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IPG shares. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Macquarie restated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Finally, Bank of America lowered their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Trading Up 3.8 %

Shares of IPG stock opened at $30.69 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $11.43 billion, a price-to-earnings ratio of 14.48 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 1 year low of $26.88 and a 1 year high of $35.17. The firm has a fifty day moving average price of $30.36 and a 200-day moving average price of $30.51.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Interpublic Group of Companies’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 62.26%.

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.