Modera Wealth Management LLC Reduces Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Modera Wealth Management LLC lessened its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 927,925 shares of the business services provider’s stock after selling 24,724 shares during the period. Modera Wealth Management LLC owned about 0.25% of Interpublic Group of Companies worth $29,350,000 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. Dimensional Fund Advisors LP increased its stake in shares of Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after buying an additional 828,150 shares during the period. Ariel Investments LLC boosted its holdings in Interpublic Group of Companies by 3.5% in the second quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock valued at $166,117,000 after acquiring an additional 193,898 shares in the last quarter. American Century Companies Inc. increased its position in Interpublic Group of Companies by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock valued at $163,049,000 after purchasing an additional 255,250 shares during the period. Canada Pension Plan Investment Board raised its holdings in Interpublic Group of Companies by 19.8% in the 2nd 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 in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Interpublic Group of Companies by 2.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,120,076 shares of the business services provider’s stock worth $61,672,000 after purchasing an additional 41,939 shares during the period. Institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IPG shares. Wells Fargo & Company reiterated an “underweight” rating and set a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Macquarie reiterated a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Bank of America dropped their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley downgraded Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Five analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Stock Down 0.3 %

Shares of NYSE:IPG opened at $29.80 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $31.33 and a two-hundred day simple moving average of $30.73. The Interpublic Group of Companies, Inc. has a 12-month low of $27.54 and a 12-month high of $35.17. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 4.97 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.51% and a net margin of 7.44%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. On average, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.83 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.33 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.43%. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

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.