Bank of Montreal Can Sells 13,613 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Bank of Montreal Can reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 595,389 shares of the business services provider’s stock after selling 13,613 shares during the quarter. Bank of Montreal Can owned approximately 0.16% of Interpublic Group of Companies worth $18,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin Edwards Inc. boosted its holdings in Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after buying an additional 375 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Interpublic Group of Companies in the third quarter worth about $26,000. Hazlett Burt & Watson Inc. raised its stake in Interpublic Group of Companies by 652.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 900 shares during the period. International Assets Investment Management LLC purchased a new position in Interpublic Group of Companies in the 2nd quarter worth approximately $32,000. Finally, Ashton Thomas Securities LLC bought a new position in Interpublic Group of Companies in the 3rd quarter worth approximately $32,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IPG shares. Macquarie reiterated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Barclays cut 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 report on Wednesday, October 23rd. Bank of America decreased their target price 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, JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price target for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Four equities 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Price Performance

NYSE:IPG opened at $30.81 on Friday. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 14.53 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50 day simple moving average of $30.31 and a 200-day simple moving average of $30.49. The Interpublic Group of Companies, Inc. has a 1 year low of $26.88 and a 1 year high of $35.17.

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 analysts’ consensus estimates of $0.70. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. Equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current 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 paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.28%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 62.26%.

Interpublic Group of Companies 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.