Los Angeles Capital Management LLC Acquires 26,360 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Los Angeles Capital Management LLC grew its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 298.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,194 shares of the business services provider’s stock after purchasing an additional 26,360 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Interpublic Group of Companies were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Rosenberg Matthew Hamilton lifted its position in shares of Interpublic Group of Companies by 9.7% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock worth $131,000 after acquiring an additional 365 shares during the period. Benjamin Edwards Inc. lifted its position in Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares during the period. Farther Finance Advisors LLC boosted its stake in Interpublic Group of Companies by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock worth $494,000 after buying an additional 382 shares in the last quarter. Ballentine Partners LLC increased its holdings in Interpublic Group of Companies by 2.9% in the 3rd quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock valued at $445,000 after buying an additional 399 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Interpublic Group of Companies by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after buying an additional 405 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. 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. Wells Fargo & Company restated an “underweight” rating and set a $26.00 target price (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Bank of America lowered their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Barclays dropped their price objective on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $29.20 on Friday. The Interpublic Group of Companies, Inc. has a 52 week low of $28.00 and a 52 week high of $35.17. The firm has a market cap of $10.88 billion, a P/E ratio of 13.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The business’s fifty day moving average is $30.74 and its two-hundred day moving average is $30.63.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the company posted $0.70 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.81 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company 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 annualized dividend and a yield of 4.52%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is 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.