1832 Asset Management L.P. Grows Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

1832 Asset Management L.P. raised its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,695 shares of the business services provider’s stock after acquiring an additional 1,718 shares during the quarter. 1832 Asset Management L.P.’s holdings in Interpublic Group of Companies were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ariel Investments LLC increased its stake in shares of Interpublic Group of Companies by 2.9% during the 1st quarter. Ariel Investments LLC now owns 5,516,550 shares of the business services provider’s stock worth $180,005,000 after purchasing an additional 154,355 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Interpublic Group of Companies by 24.1% in the first quarter. Advisors Asset Management Inc. now owns 314,235 shares of the business services provider’s stock worth $10,253,000 after acquiring an additional 60,946 shares during the last quarter. Shell Asset Management Co. raised its holdings in shares of Interpublic Group of Companies by 29.8% in the first quarter. Shell Asset Management Co. now owns 55,534 shares of the business services provider’s stock worth $1,812,000 after acquiring an additional 12,735 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Interpublic Group of Companies in the first quarter valued at $533,000. Finally, Natixis boosted its stake in shares of Interpublic Group of Companies by 69.2% during the first quarter. Natixis now owns 58,060 shares of the business services provider’s stock valued at $1,894,000 after acquiring an additional 23,744 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 2.4 %

Shares of IPG traded up $0.72 during trading on Friday, reaching $30.98. The company’s stock had a trading volume of 5,374,974 shares, compared to its average volume of 4,266,251. The company has a market cap of $11.64 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 3.29 and a beta of 1.12. 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 twelve month low of $27.20 and a twelve month high of $35.24. The company has a fifty day moving average of $29.97 and a two-hundred day moving average of $31.23.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.33 billion. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. On average, sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.32 dividend on an annualized basis and a yield of 4.26%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IPG shares. JPMorgan Chase & Co. reduced their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Barclays reduced their price objective 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 note on Thursday. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Wells Fargo & Company reduced their price target on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, Bank of America lowered their price objective on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and a consensus target price of $34.13.

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.