Acadian Asset Management LLC Buys 4,540 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Acadian Asset Management LLC boosted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 190.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,921 shares of the business services provider’s stock after purchasing an additional 4,540 shares during the quarter. Acadian Asset Management LLC’s holdings in Interpublic Group of Companies were worth $200,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Parcion Private Wealth LLC raised its position in shares of Interpublic Group of Companies by 5.7% during the second quarter. Parcion Private Wealth LLC now owns 140,468 shares of the business services provider’s stock valued at $4,086,000 after buying an additional 7,613 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Interpublic Group of Companies during the second quarter valued at about $257,000. Farmers & Merchants Investments Inc. raised its holdings in Interpublic Group of Companies by 5.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 17,395 shares of the business services provider’s stock valued at $506,000 after acquiring an additional 872 shares in the last quarter. National Bank of Canada FI raised its holdings in Interpublic Group of Companies by 17.3% in the 2nd quarter. National Bank of Canada FI now owns 103,590 shares of the business services provider’s stock valued at $2,909,000 after acquiring an additional 15,273 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Interpublic Group of Companies by 5.8% in the 2nd quarter. TD Asset Management Inc now owns 421,364 shares of the business services provider’s stock worth $12,257,000 after acquiring an additional 23,252 shares during the period. 98.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IPG shares. Barclays lowered their price objective on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $34.00 to $28.00 in a research note on Monday, July 22nd. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Macquarie lowered their target price on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Finally, Bank of America cut their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.00.

Interpublic Group of Companies Price Performance

NYSE:IPG opened at $31.11 on Friday. 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 firm has a market cap of $11.74 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 5.17 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $35.17. The company’s 50-day moving average price is $31.02 and its two-hundred day moving average price is $30.96.

Interpublic Group of Companies (NYSE:IPG) last announced 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 business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the business earned $0.74 EPS. Interpublic Group of Companies’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.24%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

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.