DRW Securities LLC Sells 26,418 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

DRW Securities LLC reduced its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 61.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,415 shares of the business services provider’s stock after selling 26,418 shares during the quarter. DRW Securities LLC’s holdings in Interpublic Group of Companies were worth $519,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Boston Trust Walden Corp increased its stake in shares of Interpublic Group of Companies by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after acquiring an additional 34,965 shares in the last quarter. Tidal Investments LLC increased its stake in Interpublic Group of Companies by 68.0% in the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock valued at $3,949,000 after purchasing an additional 48,996 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Interpublic Group of Companies by 176.5% during the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock valued at $7,403,000 after purchasing an additional 162,468 shares during the period. Andra AP fonden raised its holdings in shares of Interpublic Group of Companies by 16.2% during the second quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock valued at $15,479,000 after purchasing an additional 74,200 shares during the period. Finally, M&G Plc bought a new position in shares of Interpublic Group of Companies during the 2nd quarter worth about $605,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Performance

IPG stock opened at $30.64 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a market cap of $11.41 billion, a PE ratio of 14.45 and a beta of 1.10. The business has a 50 day moving average of $30.35 and a 200-day moving average of $30.50. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data 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. 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 27.76% and a net margin of 7.44%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. As a group, sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.31%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.26%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. BNP Paribas downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut 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 price target for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Finally, Bank of America dropped their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Interpublic Group of Companies currently has an average rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies 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.