Amalgamated Bank Sells 43,787 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Amalgamated Bank decreased its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 37.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,939 shares of the business services provider's stock after selling 43,787 shares during the quarter. Amalgamated Bank's holdings in Interpublic Group of Companies were worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Boston Trust Walden Corp lifted its holdings in Interpublic Group of Companies by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider's stock worth $34,532,000 after purchasing an additional 34,965 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Interpublic Group of Companies by 68.0% in the 1st quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider's stock worth $3,949,000 after acquiring an additional 48,996 shares during the last quarter. SG Americas Securities LLC increased its position in Interpublic Group of Companies by 176.5% during the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider's stock worth $7,403,000 after purchasing an additional 162,468 shares during the last quarter. Councilmark Asset Management LLC acquired a new position in shares of Interpublic Group of Companies in the 1st quarter valued at $1,076,000. Finally, Andra AP fonden grew its stake in shares of Interpublic Group of Companies by 16.2% in the second quarter. Andra AP fonden now owns 532,100 shares of the business services provider's stock worth $15,479,000 after acquiring an additional 74,200 shares during the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Down 1.9 %

Interpublic Group of Companies stock traded down $0.56 during mid-day trading on Tuesday, hitting $29.06. The company's stock had a trading volume of 2,562,293 shares, compared to its average volume of 3,905,868. The company has a market cap of $10.83 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 5.01 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 52-week low of $28.00 and a 52-week high of $35.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The firm's 50 day moving average is $30.84 and its 200 day moving average is $30.65.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its earnings results 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 analyst estimates of $2.30 billion. During the same period in the prior year, the company posted $0.70 earnings per share. Interpublic Group of Companies's revenue was down 2.9% on a year-over-year basis. On average, analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.81 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies's payout ratio is currently 62.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IPG shares. Morgan Stanley cut Interpublic Group of Companies from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Barclays lowered their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company reiterated an "underweight" rating and set a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Interpublic Group of Companies from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Bank of America cut their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, September 5th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Interpublic Group of Companies has a consensus rating of "Hold" and an average target price of $30.57.

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.