Covestor Ltd Increases Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Covestor Ltd raised its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,700 shares of the business services provider’s stock after buying an additional 711 shares during the period. Covestor Ltd’s holdings in Interpublic Group of Companies were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Boston Trust Walden Corp grew its position in Interpublic Group of Companies by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after acquiring an additional 34,965 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Interpublic Group of Companies by 68.0% in the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock valued at $3,949,000 after purchasing an additional 48,996 shares in the last quarter. SG Americas Securities LLC increased its stake 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 worth $7,403,000 after buying an additional 162,468 shares during the period. Councilmark Asset Management LLC acquired a new stake in Interpublic Group of Companies during the 1st quarter worth approximately $1,076,000. Finally, Forsta AP Fonden boosted its position in Interpublic Group of Companies by 94.0% in the 1st quarter. Forsta AP Fonden now owns 199,200 shares of the business services provider’s stock valued at $6,500,000 after buying an additional 96,500 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Macquarie reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. BNP Paribas downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Wells Fargo & Company restated an “underweight” rating and set a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $29.83 on Friday. The firm has a market capitalization of $11.11 billion, a P/E ratio of 14.07, a P/E/G ratio of 5.08 and a beta of 1.10. 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 $28.00 and a 52 week high of $35.17. The firm’s 50 day moving average is $30.90 and its two-hundred day moving average is $30.67.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the business earned $0.70 EPS. Interpublic Group of Companies’s revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 62.26%.

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.