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

DRW Securities LLC cut its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 61.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rosenberg Matthew Hamilton increased its stake in shares of Interpublic Group of Companies by 9.7% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 365 shares during the last quarter. Benjamin Edwards Inc. grew its position in Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 375 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Interpublic Group of Companies by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock worth $494,000 after acquiring an additional 382 shares in the last quarter. Ballentine Partners LLC raised its stake in Interpublic Group of Companies by 2.9% during the third quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock worth $445,000 after acquiring an additional 399 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Interpublic Group of Companies by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 405 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the subject of a number of research analyst reports. Bank of America lowered their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. Barclays cut their price objective on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas cut Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Stock Down 0.1 %

Shares of IPG opened at $30.64 on Wednesday. The stock’s 50-day moving average price is $30.35 and its two-hundred day moving average price is $30.50. The Interpublic Group of Companies, Inc. has a 12 month low of $26.88 and a 12 month high of $35.17. The company has a market capitalization of $11.41 billion, a PE ratio of 14.45 and a beta of 1.10. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

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

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

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.