Valley National Advisers Inc. Sells 50,345 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Valley National Advisers Inc. reduced its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 51.5% in the third quarter, HoldingsChannel reports. The firm owned 47,451 shares of the business services provider’s stock after selling 50,345 shares during the period. Valley National Advisers Inc.’s holdings in Interpublic Group of Companies were worth $1,500,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IPG. Dimensional Fund Advisors LP lifted its position in shares of Interpublic Group of Companies by 13.8% during 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 buying an additional 828,150 shares during the last quarter. Ariel Investments LLC lifted its position in Interpublic Group of Companies by 3.5% during the second quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock valued at $166,117,000 after acquiring an additional 193,898 shares during the last quarter. American Century Companies Inc. boosted its stake in Interpublic Group of Companies by 4.8% in the second quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock valued at $163,049,000 after acquiring an additional 255,250 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in 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 acquiring an additional 899,332 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Interpublic Group of Companies by 2.0% during the second quarter. Principal Financial Group Inc. now owns 2,120,076 shares of the business services provider’s stock worth $61,672,000 after purchasing an additional 41,939 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Morgan Stanley downgraded Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Macquarie restated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. StockNews.com cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Stock Down 0.3 %

Shares of IPG stock opened at $29.80 on Friday. The Interpublic Group of Companies, Inc. has a twelve month low of $27.54 and a twelve month high of $35.17. The stock has a market cap of $11.19 billion, a P/E ratio of 14.06, a P/E/G ratio of 4.97 and a beta of 1.09. The stock has a 50 day moving average of $31.33 and a 200 day moving average of $30.73. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.51%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business’s quarterly revenue 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 2.83 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.33 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.43%. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

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.