The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 14.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 476,168 shares of the business services provider’s stock after selling 77,552 shares during the period. Citigroup Inc. owned 0.13% of Interpublic Group of Companies worth $15,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IPG. Millennium Management LLC grew its position in shares of Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after purchasing an additional 1,248,062 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Interpublic Group of Companies by 19.8% in the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after purchasing an additional 899,332 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Interpublic Group of Companies by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after purchasing an additional 828,150 shares during the period. Swedbank AB purchased a new stake in shares of Interpublic Group of Companies in the first quarter valued at $20,493,000. Finally, Squarepoint Ops LLC grew its position in shares of Interpublic Group of Companies by 168.3% in the second quarter. Squarepoint Ops LLC now owns 831,434 shares of the business services provider’s stock valued at $24,186,000 after purchasing an additional 521,546 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG opened at $30.47 on Thursday. The Interpublic Group of Companies, Inc. has a 1-year low of $26.88 and a 1-year high of $35.17. The business has a 50-day moving average of $30.34 and a 200-day moving average of $30.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 14.37 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 62.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IPG. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Barclays lowered their price target on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. BNP Paribas downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Finally, UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to 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.