TD Asset Management Inc. trimmed its position in Interpublic Group of Companies Inc (NYSE:IPG) by 18.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 529,746 shares of the business services provider’s stock after selling 122,329 shares during the period. TD Asset Management Inc. owned 0.14% of Interpublic Group of Companies worth $11,967,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Brand Asset Management Group Inc. grew its stake in Interpublic Group of Companies by 106.6% in the first quarter. Brand Asset Management Group Inc. now owns 942 shares of the business services provider’s stock worth $51,000 after purchasing an additional 486 shares during the period. Coastal Capital Group Inc. purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth $26,000. Marino Stram & Associates LLC purchased a new stake in shares of Interpublic Group of Companies in the first quarter worth $30,000. Bremer Bank National Association purchased a new stake in shares of Interpublic Group of Companies in the first quarter worth $35,000. Finally, Westside Investment Management Inc. purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth $45,000. 98.86% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on IPG. ValuEngine cut Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research cut Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research note on Wednesday, July 3rd. BMO Capital Markets cut their target price on Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Bank of America raised Interpublic Group of Companies from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 10th. Finally, TheStreet cut Interpublic Group of Companies from a “b” rating to a “c+” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $25.71.
Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.15 billion. Interpublic Group of Companies had a return on equity of 32.03% and a net margin of 6.46%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. Sell-side analysts predict that Interpublic Group of Companies Inc will post 1.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, August 30th. Interpublic Group of Companies’s payout ratio is currently 50.54%.
In other news, CEO Michael Isor Roth sold 431,594 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $23.08, for a total transaction of $9,961,189.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director H John Greeniaus sold 44,396 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $23.02, for a total value of $1,021,995.92. The disclosure for this sale can be found here. Corporate insiders own 1.09% of the company’s stock.
About Interpublic Group of Companies
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
Further Reading: How to Track your Portfolio in Google Finance
Receive News & Ratings for Interpublic Group of Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies and related companies with MarketBeat.com's FREE daily email newsletter.