TD Asset Management Inc. Trims Stock Holdings in Interpublic Group of Companies Inc (NYSE:IPG)

TD Asset Management Inc. decreased its stake in Interpublic Group of Companies Inc (NYSE:IPG) by 18.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 529,746 shares of the business services provider’s stock after selling 122,329 shares during the period. TD Asset Management Inc.’s holdings in Interpublic Group of Companies were worth $11,967,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Covenant Multifamily Offices LLC purchased a new stake in shares of Interpublic Group of Companies during the second quarter worth about $225,000. State of Wisconsin Investment Board grew its position in shares of Interpublic Group of Companies by 58.2% during the first quarter. State of Wisconsin Investment Board now owns 951,434 shares of the business services provider’s stock worth $19,990,000 after purchasing an additional 350,133 shares in the last quarter. Raymond James & Associates grew its position in shares of Interpublic Group of Companies by 2.7% during the first quarter. Raymond James & Associates now owns 1,325,193 shares of the business services provider’s stock worth $27,842,000 after purchasing an additional 34,840 shares in the last quarter. Exane Derivatives grew its position in shares of Interpublic Group of Companies by 2,760.0% during the second quarter. Exane Derivatives now owns 3,003 shares of the business services provider’s stock worth $68,000 after purchasing an additional 2,898 shares in the last quarter. Finally, Thor Advisors LLC purchased a new stake in shares of Interpublic Group of Companies during the first quarter worth about $48,000. Institutional investors and hedge funds own 98.86% of the company’s stock.

IPG has been the subject of several research analyst reports. Bank of America upgraded Interpublic Group of Companies from an “underperform” rating to a “neutral” rating in a research report on Wednesday, July 10th. Zacks Investment Research cut Interpublic Group of Companies from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research report on Wednesday, July 3rd. BMO Capital Markets cut their target price on Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. ValuEngine cut Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, TheStreet cut Interpublic Group of Companies from a “b” rating to a “c+” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $25.71.

NYSE IPG traded up $0.53 during trading on Friday, hitting $20.10. 3,715,500 shares of the stock traded hands, compared to its average volume of 3,468,350. The company has a market capitalization of $7.58 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 2.20 and a beta of 1.06. The firm has a 50-day simple moving average of $22.45 and a 200-day simple moving average of $22.35. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.04. Interpublic Group of Companies Inc has a 12-month low of $19.56 and a 12-month high of $25.10.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Interpublic Group of Companies had a return on equity of 32.03% and a net margin of 6.46%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. As a group, research analysts predict that Interpublic Group of Companies Inc will post 1.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, August 30th. Interpublic Group of Companies’s dividend payout ratio is presently 50.54%.

In other Interpublic Group of Companies news, CEO Michael Isor Roth sold 431,594 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $23.08, for a total transaction of $9,961,189.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director H John Greeniaus sold 44,396 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $23.02, for a total value of $1,021,995.92. The disclosure for this sale can be found here. Company insiders own 1.09% of the company’s stock.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

Recommended Story: What are the risks of holding treasury bonds?

Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interpublic Group of Companies Inc (NYSE:IPG).

Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

Receive News & Ratings for Interpublic Group of Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies and related companies with MarketBeat.com's FREE daily email newsletter.