Janney Montgomery Scott LLC Acquires 3,499 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Janney Montgomery Scott LLC lifted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,648 shares of the business services provider’s stock after purchasing an additional 3,499 shares during the period. Janney Montgomery Scott LLC’s holdings in Interpublic Group of Companies were worth $1,001,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Millennium Management LLC grew its stake in Interpublic Group of Companies by 571.7% in the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after buying an additional 1,248,062 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Interpublic Group of Companies by 19.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after acquiring an additional 899,332 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Interpublic Group of Companies by 101.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock valued at $55,162,000 after acquiring an additional 853,287 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after buying an additional 828,150 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Interpublic Group of Companies during the first quarter worth $20,493,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Macquarie reissued a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Finally, BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $27.10 on Friday. 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 stock’s fifty day moving average is $30.70 and its 200 day moving average is $30.62. The stock has a market cap of $10.10 billion, a P/E ratio of 12.78 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a one year low of $27.01 and a one year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates 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 for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. Sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.26%.

About Interpublic Group of Companies

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.