20,869 Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG) Purchased by M&G Plc

M&G Plc purchased a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 20,869 shares of the business services provider’s stock, valued at approximately $605,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its position in Interpublic Group of Companies by 14.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,011 shares of the business services provider’s stock valued at $233,000 after purchasing an additional 1,011 shares during the period. Aspire Private Capital LLC lifted its position in Interpublic Group of Companies by 14.9% during the 2nd quarter. Aspire Private Capital LLC now owns 7,143 shares of the business services provider’s stock valued at $208,000 after purchasing an additional 925 shares during the period. Czech National Bank lifted its position in Interpublic Group of Companies by 6.7% during the 2nd quarter. Czech National Bank now owns 71,922 shares of the business services provider’s stock valued at $2,092,000 after purchasing an additional 4,531 shares during the period. Sound Income Strategies LLC lifted its position in Interpublic Group of Companies by 36.8% during the 2nd quarter. Sound Income Strategies LLC now owns 311,761 shares of the business services provider’s stock valued at $9,069,000 after purchasing an additional 83,785 shares during the period. Finally, SG Americas Securities LLC lifted its position in Interpublic Group of Companies by 176.5% during the 2nd quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock valued at $7,403,000 after purchasing an additional 162,468 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Ratings Changes

IPG has been the topic of a number of analyst reports. Barclays cut their price target on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Macquarie cut their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Bank of America lowered their target price on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Wells Fargo & Company dropped their target price on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Finally, Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and an average target price of $34.13.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $30.69 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $35.17. The company has a market capitalization of $11.58 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 3.29 and a beta of 1.12. The firm’s 50 day moving average is $29.81 and its 200-day moving average is $31.09.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the company earned $0.74 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.30%. Interpublic Group of Companies’s payout ratio is 46.98%.

Interpublic Group of Companies Company 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.