Peterson Financial Group Inc. Lowers Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Peterson Financial Group Inc. cut its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 44.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,930 shares of the business services provider’s stock after selling 9,520 shares during the quarter. Peterson Financial Group Inc.’s holdings in Interpublic Group of Companies were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of IPG. Mirae Asset Global Investments Co. Ltd. lifted its stake in Interpublic Group of Companies by 85.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 229,511 shares of the business services provider’s stock worth $7,491,000 after acquiring an additional 105,858 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Interpublic Group of Companies by 54.3% during the 4th quarter. BNP Paribas Financial Markets now owns 860,103 shares of the business services provider’s stock worth $28,074,000 after acquiring an additional 302,664 shares in the last quarter. Cowen AND Company LLC acquired a new position in Interpublic Group of Companies during the 4th quarter worth about $871,000. Kingsview Wealth Management LLC acquired a new position in Interpublic Group of Companies during the 4th quarter worth about $3,291,000. Finally, Vest Financial LLC raised its position in Interpublic Group of Companies by 30.9% in the 4th quarter. Vest Financial LLC now owns 392,769 shares of the business services provider’s stock valued at $12,820,000 after purchasing an additional 92,692 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Up 1.9 %

IPG stock traded up $0.58 during trading on Friday, hitting $31.37. 4,660,538 shares of the company’s stock were exchanged, compared to its average volume of 2,553,831. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $40.95. The business has a 50-day moving average price of $31.34 and a two-hundred day moving average price of $31.82. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 2.87 and a beta of 1.13.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Interpublic Group of Companies had a return on equity of 29.70% and a net margin of 9.97%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Tuesday, June 4th. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Wall Street Analysts Forecast Growth

IPG has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Wells Fargo & Company reduced their price target on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.13.

Interpublic Group of Companies Company 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.