Strs Ohio lessened its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 13.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,748 shares of the business services provider’s stock after selling 6,022 shares during the period. Strs Ohio’s holdings in Interpublic Group of Companies were worth $991,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. HighTower Trust Company N.A. bought a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $234,000. Patron Partners LLC grew its position in Interpublic Group of Companies by 11.1% in the 3rd quarter. Patron Partners LLC now owns 12,606 shares of the business services provider’s stock worth $323,000 after purchasing an additional 1,260 shares during the last quarter. Raymond James Trust N.A. grew its position in Interpublic Group of Companies by 5.1% in the 2nd quarter. Raymond James Trust N.A. now owns 19,255 shares of the business services provider’s stock worth $530,000 after purchasing an additional 930 shares during the last quarter. Mutual Advisors LLC grew its position in Interpublic Group of Companies by 18.8% in the 2nd quarter. Mutual Advisors LLC now owns 22,861 shares of the business services provider’s stock worth $629,000 after purchasing an additional 3,623 shares during the last quarter. Finally, PFS Investments Inc. grew its position in Interpublic Group of Companies by 8.8% in the 2nd quarter. PFS Investments Inc. now owns 219,223 shares of the business services provider’s stock worth $6,035,000 after purchasing an additional 17,751 shares during the last quarter. Institutional investors own 96.75% of the company’s stock.
IPG stock opened at $35.96 on Friday. The Interpublic Group of Companies, Inc. has a 12 month low of $25.14 and a 12 month high of $39.98. The firm has a market cap of $13.97 billion, a PE ratio of 14.27, a P/E/G ratio of 3.60 and a beta of 1.08. The firm has a 50 day simple moving average of $33.34 and a 200 day simple moving average of $30.06. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.04 and a quick ratio of 1.04.
Interpublic Group of Companies (NYSE:IPG – Get Rating) last released its earnings results on Friday, October 21st. The business services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Interpublic Group of Companies had a net margin of 9.18% and a return on equity of 28.78%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. Equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were given a $0.29 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.23%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.03%.
IPG has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Bank of America upgraded shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $22.00 to $36.00 in a report on Thursday, January 5th. Finally, Morgan Stanley increased their price objective on shares of Interpublic Group of Companies from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, December 19th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.
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