By otakuyassine3@gmail.com 
Virtu Financial LLC bought a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,527 shares of the business services provider’s stock, valued at approximately $206,000.
Several other institutional investors have also recently made changes to their positions in IPG. State Street Corp raised its holdings in Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after purchasing an additional 3,920,975 shares in the last quarter. Andra AP fonden lifted its position in Interpublic Group of Companies by 16.2% during the 2nd quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock valued at $15,479,000 after acquiring an additional 74,200 shares during the period. Vest Financial LLC lifted its position in Interpublic Group of Companies by 39.3% during the 2nd quarter. Vest Financial LLC now owns 789,466 shares of the business services provider’s stock valued at $22,966,000 after acquiring an additional 222,693 shares during the period. International Assets Investment Management LLC boosted its stake in Interpublic Group of Companies by 2,679.9% during the third quarter. International Assets Investment Management LLC now owns 30,523 shares of the business services provider’s stock worth $965,000 after acquiring an additional 29,425 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Interpublic Group of Companies during the third quarter valued at approximately $1,589,000. Institutional investors own 98.43% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Barclays cut their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Bank of America lowered their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and a consensus target price of $31.71.
Read Our Latest Analysis on IPG
Interpublic Group of Companies Stock Performance
Shares of IPG stock opened at $29.07 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 52 week low of $26.88 and a 52 week high of $35.17. The firm has a market capitalization of $10.83 billion, a PE ratio of 13.71 and a beta of 1.10. The company has a 50 day moving average price of $29.96 and a 200-day moving average price of $30.33.
Interpublic Group of Companies (NYSE:IPG – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share 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 company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. Interpublic Group of Companies’s revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Monday, December 2nd. 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.
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