Gladius Capital Management LP Lowers Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Gladius Capital Management LP reduced its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 16.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,405 shares of the business services provider’s stock after selling 2,103 shares during the period. Interpublic Group of Companies comprises approximately 0.0% of Gladius Capital Management LP’s holdings, making the stock its 27th largest position. Gladius Capital Management LP’s holdings in Interpublic Group of Companies were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IPG. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Interpublic Group of Companies by 4.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,635 shares of the business services provider’s stock valued at $445,000 after buying an additional 575 shares during the period. Headlands Technologies LLC acquired a new stake in Interpublic Group of Companies in the first quarter valued at $42,000. Avantax Advisory Services Inc. purchased a new stake in shares of Interpublic Group of Companies during the 1st quarter worth $310,000. ProShare Advisors LLC boosted its position in shares of Interpublic Group of Companies by 1.0% during the 1st quarter. ProShare Advisors LLC now owns 67,292 shares of the business services provider’s stock worth $2,196,000 after purchasing an additional 695 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Interpublic Group of Companies by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 399,245 shares of the business services provider’s stock worth $13,027,000 after purchasing an additional 12,940 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Bank of America lowered their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Barclays dropped their price objective on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company reiterated an “underweight” rating and set a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Stock Down 7.2 %

IPG stock opened at $27.09 on Friday. The company has a 50 day moving average price of $30.62 and a two-hundred day moving average price of $30.59. 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 stock has a market capitalization of $10.09 billion, a P/E ratio of 12.78 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a one year low of $27.01 and a one year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.87%. Interpublic Group of Companies’s payout ratio is currently 62.26%.

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.