Assenagon Asset Management S.A. Cuts Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Assenagon Asset Management S.A. trimmed its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 69.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,029 shares of the business services provider’s stock after selling 109,866 shares during the period. Assenagon Asset Management S.A.’s holdings in Interpublic Group of Companies were worth $1,703,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JB Capital LLC boosted its position in Interpublic Group of Companies by 11.5% during the fourth quarter. JB Capital LLC now owns 50,100 shares of the business services provider’s stock valued at $1,876,000 after buying an additional 5,175 shares during the period. DNB Asset Management AS boosted its position in Interpublic Group of Companies by 3.1% during the first quarter. DNB Asset Management AS now owns 103,468 shares of the business services provider’s stock valued at $3,668,000 after buying an additional 3,115 shares during the period. S.C. Financial Services Inc. purchased a new stake in Interpublic Group of Companies during the fourth quarter valued at about $241,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Interpublic Group of Companies by 11.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,759,818 shares of the business services provider’s stock valued at $103,355,000 after buying an additional 283,544 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Interpublic Group of Companies by 4.2% during the fourth quarter. CIBC Asset Management Inc now owns 36,633 shares of the business services provider’s stock valued at $1,372,000 after acquiring an additional 1,488 shares during the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

In other Interpublic Group of Companies news, Director Mary Guilfoile sold 6,301 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $32.41, for a total transaction of $204,215.41. Following the completion of the transaction, the director now owns 102,803 shares of the company’s stock, valued at $3,331,845.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawn E. Hudson sold 18,376 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $32.45, for a total transaction of $596,301.20. Following the transaction, the director now directly owns 32,880 shares of the company’s stock, valued at approximately $1,066,956. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

IPG stock opened at $27.50 on Friday. The Interpublic Group of Companies, Inc. has a 1 year low of $26.36 and a 1 year high of $39.98. The company has a market cap of $10.83 billion, a P/E ratio of 10.74, a PEG ratio of 7.97 and a beta of 1.03. The firm has a 50-day moving average of $29.57 and a 200 day moving average of $33.57. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 1.04.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last announced its earnings results on Thursday, April 28th. The business services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Interpublic Group of Companies had a net margin of 9.67% and a return on equity of 31.10%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 21st. Shareholders of record on Monday, June 6th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Friday, June 3rd. Interpublic Group of Companies’s dividend payout ratio is 45.31%.

IPG has been the subject of several recent analyst reports. Morgan Stanley lowered their price objective on shares of Interpublic Group of Companies from $40.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, June 10th. Citigroup lowered their price objective on shares of Interpublic Group of Companies from $43.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Macquarie downgraded shares of Interpublic Group of Companies from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Interpublic Group of Companies from $45.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Finally, StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research note on Thursday, March 31st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.50.

Interpublic Group of Companies Company Profile (Get Rating)

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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