Traders Sell Shares of Interpublic Group of Cos. (IPG) on Strength (IPG)
Traders sold shares of Interpublic Group of Cos. (NYSE:IPG) on strength during trading on Wednesday. $9.09 million flowed into the stock on the tick-up and $25.10 million flowed out of the stock on the tick-down, for a money net flow of $16.01 million out of the stock. Of all equities tracked, Interpublic Group of Cos. had the 0th highest net out-flow for the day. Interpublic Group of Cos. traded up $0.44 for the day and closed at $23.18
A number of research analysts have commented on the company. Zacks Investment Research lowered Interpublic Group of Cos. from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Jefferies Group reiterated a “buy” rating on shares of Interpublic Group of Cos. in a research report on Monday, August 1st. Wedbush reiterated an “outperform” rating and issued a $28.00 price objective on shares of Interpublic Group of Cos. in a research report on Monday, July 18th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $26.00 price objective on shares of Interpublic Group of Cos. in a research report on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Interpublic Group of Cos. presently has an average rating of “Buy” and a consensus target price of $25.78.
The firm has a market cap of $9.27 billion and a price-to-earnings ratio of 19.22. The company has a 50 day moving average of $23.16 and a 200 day moving average of $22.95.
Interpublic Group of Cos. (NYSE:IPG) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.93 billion. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. On average, analysts expect that Interpublic Group of Cos. will post $1.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.60 annualized dividend and a yield of 2.59%.
An institutional investor recently raised its position in Interpublic Group of Cos. stock. State of Tennessee Treasury Department boosted its stake in shares of Interpublic Group of Cos. (NYSE:IPG) by 41.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 388,062 shares of the company’s stock after buying an additional 113,962 shares during the period. State of Tennessee Treasury Department owned about 0.10% of Interpublic Group of Cos. worth $9,034,000 at the end of the most recent reporting period.
The Interpublic Group of Companies, Inc (IPG) is an advertising and marketing services company. IPG’s companies are engaged in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).
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