Crossmark Global Holdings Inc. Sells 8,967 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Crossmark Global Holdings Inc. reduced its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 349,421 shares of the business services provider’s stock after selling 8,967 shares during the period. Crossmark Global Holdings Inc.’s holdings in Interpublic Group of Companies were worth $10,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Voisard Asset Management Group Inc. purchased a new stake in Interpublic Group of Companies during the 4th quarter valued at about $31,000. Headlands Technologies LLC purchased a new stake in shares of Interpublic Group of Companies during the first quarter valued at approximately $42,000. Salomon & Ludwin LLC grew its holdings in shares of Interpublic Group of Companies by 2,024.6% during the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock valued at $42,000 after buying an additional 1,235 shares during the last quarter. Assetmark Inc. increased its position in shares of Interpublic Group of Companies by 27.5% during the fourth quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 368 shares in the last quarter. Finally, Quarry LP raised its holdings in Interpublic Group of Companies by 26.0% in the 4th quarter. Quarry LP now owns 2,052 shares of the business services provider’s stock worth $67,000 after acquiring an additional 423 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG traded up $0.22 during midday trading on Friday, hitting $32.60. 3,583,878 shares of the company’s stock traded hands, compared to its average volume of 3,885,696. The firm has a fifty day moving average of $30.28 and a 200 day moving average of $31.04. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $35.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 3.29 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.05%. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Wall Street Analysts Forecast Growth

IPG has been the topic of several recent analyst reports. Macquarie cut their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Bank of America dropped their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Morgan Stanley lowered Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. JPMorgan Chase & Co. dropped their price target on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Barclays reduced their price target on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus target price of $34.13.

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.