Proquility Private Wealth Partners LLC Reduces Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Proquility Private Wealth Partners LLC cut its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 69.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,575 shares of the business services provider’s stock after selling 40,522 shares during the quarter. Proquility Private Wealth Partners LLC’s holdings in Interpublic Group of Companies were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of IPG. State Street Corp increased its position in shares of Interpublic Group of Companies by 15.1% during the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after purchasing an additional 3,920,975 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Interpublic Group of Companies by 240.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after buying an additional 20,395 shares during the last quarter. International Assets Investment Management LLC increased its position in Interpublic Group of Companies by 2,679.9% during the third quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock worth $965,000 after buying an additional 29,425 shares during the period. ING Groep NV purchased a new stake in Interpublic Group of Companies in the third quarter valued at approximately $1,589,000. Finally, Bridgewater Associates LP boosted its holdings in shares of Interpublic Group of Companies by 956.5% in the third quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock valued at $3,313,000 after acquiring an additional 94,821 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

IPG has been the topic of a number of recent research reports. BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Friday, January 10th. Barclays reduced their target price on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Monday. They issued a “hold” rating on the stock. Macquarie reaffirmed 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. Finally, JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.50.

Interpublic Group of Companies Trading Up 1.4 %

Shares of IPG stock opened at $28.22 on Wednesday. The business’s fifty day moving average price is $28.79 and its 200 day moving average price is $30.05. The firm has a market capitalization of $10.51 billion, a PE ratio of 13.31 and a beta of 1.11. 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 Interpublic Group of Companies, Inc. has a 1-year low of $26.30 and a 1-year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.33 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.68%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 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.