Venturi Wealth Management LLC Has $1.06 Million Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Venturi Wealth Management LLC boosted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,460 shares of the business services provider’s stock after purchasing an additional 4,678 shares during the period. Venturi Wealth Management LLC’s holdings in Interpublic Group of Companies were worth $1,058,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC raised its holdings in Interpublic Group of Companies by 571.7% during the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after buying an additional 1,248,062 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Interpublic Group of Companies by 19.8% during the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after buying an additional 899,332 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Interpublic Group of Companies by 101.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock valued at $55,162,000 after buying an additional 853,287 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after buying an additional 828,150 shares in the last quarter. Finally, Swedbank AB bought a new position in Interpublic Group of Companies during the first quarter valued at about $20,493,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 0.7 %

IPG stock opened at $29.62 on Tuesday. The Interpublic Group of Companies, Inc. has a twelve month low of $28.00 and a twelve month high of $35.17. The company has a market cap of $11.03 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 5.01 and a beta of 1.10. The business’s 50-day simple moving average is $30.90 and its 200 day simple moving average is $30.67. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. On average, research 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 4.46%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 62.26%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their target price for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday. Macquarie reiterated a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and an average target price of $30.57.

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.