Hardy Reed LLC Buys Shares of 6,420 The Interpublic Group of Companies, Inc. (NYSE:IPG)

Hardy Reed LLC purchased a new position in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,420 shares of the business services provider’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. California State Teachers Retirement System lifted its stake in Interpublic Group of Companies by 1.7% during the 1st quarter. California State Teachers Retirement System now owns 641,724 shares of the business services provider’s stock valued at $20,939,000 after acquiring an additional 10,620 shares during the period. Tidal Investments LLC raised its holdings in shares of Interpublic Group of Companies by 68.0% during 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 during the last quarter. iA Global Asset Management Inc. bought a new position in Interpublic Group of Companies during the first quarter valued at approximately $244,000. Wahed Invest LLC boosted its holdings in Interpublic Group of Companies by 14.6% in the first quarter. Wahed Invest LLC now owns 7,538 shares of the business services provider’s stock worth $246,000 after purchasing an additional 961 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Interpublic Group of Companies in the 1st quarter worth $20,493,000. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Trading Down 0.1 %

Shares of IPG stock opened at $30.64 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 14.45 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17. The stock’s 50-day moving average price is $30.35 and its 200-day moving average price is $30.50.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) 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 company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.31%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 62.26%.

Wall Street Analyst Weigh In

IPG has been the subject of a number of recent research reports. 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. StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Macquarie reaffirmed 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, BNP Paribas cut Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.57.

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.