Investors 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 hours on Tuesday. $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 stocks 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 firms have recently commented on IPG. Zacks Investment Research raised Interpublic Group of Cos. from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Jefferies Group reissued a “buy” rating on shares of Interpublic Group of Cos. in a research note on Monday, August 22nd. Wedbush reissued an “outperform” rating and issued a $28.00 price objective on shares of Interpublic Group of Cos. in a research note on Monday, July 18th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $26.00 price objective on shares of Interpublic Group of Cos. in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Interpublic Group of Cos. currently has an average rating of “Buy” and an average price target of $25.78.
The firm has a market cap of $9.29 billion and a price-to-earnings ratio of 19.25. The firm’s 50-day moving average price is $23.19 and its 200 day moving average price is $22.94.
Interpublic Group of Cos. (NYSE:IPG) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.33 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.93 billion. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. Analysts expect that Interpublic Group of Cos. will post $1.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Tuesday, August 30th.
Other hedge funds have modified their holdings of the company. BlackRock Advisors LLC increased its stake in shares of Interpublic Group of Cos. by 42.9% in the fourth quarter. BlackRock Advisors LLC now owns 1,266,051 shares of the company’s stock valued at $29,474,000 after buying an additional 380,376 shares during the last quarter. State of Tennessee Treasury Department increased its stake in shares of Interpublic Group of Cos. by 41.6% in the fourth quarter. State of Tennessee Treasury Department now owns 388,062 shares of the company’s stock valued at $9,034,000 after buying an additional 113,962 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Interpublic Group of Cos. by 10.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 378,790 shares of the company’s stock valued at $8,818,000 after buying an additional 37,186 shares during the last quarter.
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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