Goelzer Investment Management Inc. Sells 5,742 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Goelzer Investment Management Inc. decreased its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,451 shares of the business services provider’s stock after selling 5,742 shares during the period. Goelzer Investment Management Inc. owned 0.06% of Interpublic Group of Companies worth $5,953,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Interpublic Group of Companies by 15.1% in the 3rd quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock valued at $943,993,000 after buying an additional 3,920,975 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Interpublic Group of Companies by 240.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,862 shares of the business services provider’s stock worth $913,000 after buying an additional 20,395 shares during the period. International Assets Investment Management LLC raised its stake in shares of Interpublic Group of Companies by 2,679.9% during the third quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock worth $965,000 after buying an additional 29,425 shares during the last quarter. ING Groep NV acquired a new position in Interpublic Group of Companies in the third quarter valued at approximately $1,589,000. Finally, Bridgewater Associates LP boosted its stake in Interpublic Group of Companies by 956.5% in the third quarter. Bridgewater Associates LP now owns 104,734 shares of the business services provider’s stock valued at $3,313,000 after acquiring an additional 94,821 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $28.55 on Friday. The firm has a market cap of $10.63 billion, a P/E ratio of 13.47 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a twelve month low of $26.30 and a twelve month high of $35.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50 day moving average price is $28.73 and its two-hundred day moving average price is $30.03.

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, meeting the consensus estimate of $0.70. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. On average, analysts forecast that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.62%. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays upgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $32.00 to $36.00 in a research report on Friday. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their target price for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. BNP Paribas upgraded Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Friday, January 10th. Macquarie reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus price target of $33.00.

About Interpublic Group of Companies

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.