MBB Public Markets I LLC Purchases Shares of 28,570 The Interpublic Group of Companies, Inc. (NYSE:IPG)

MBB Public Markets I LLC acquired a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,570 shares of the business services provider’s stock, valued at approximately $831,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. UMB Bank n.a. boosted its stake in Interpublic Group of Companies by 3.5% in the 1st quarter. UMB Bank n.a. now owns 9,607 shares of the business services provider’s stock worth $313,000 after buying an additional 321 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Interpublic Group of Companies by 3.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider’s stock worth $356,000 after acquiring an additional 347 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in Interpublic Group of Companies by 8.4% in the first quarter. Richardson Financial Services Inc. now owns 4,530 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 350 shares during the period. Benjamin Edwards Inc. increased its position in Interpublic Group of Companies by 73.8% during 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 last quarter. Finally, Farther Finance Advisors LLC raised 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 purchasing an additional 382 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 1.3 %

Shares of NYSE:IPG opened at $31.22 on Wednesday. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 5.23 and a beta of 1.10. The company has a 50 day moving average of $31.18 and a two-hundred day moving average of $30.89. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the business earned $0.74 EPS. The business’s revenue was up 1.6% on a year-over-year basis. As a group, analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 46.98%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Morgan Stanley lowered Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $33.00 in a report on Tuesday. Bank of America decreased their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Finally, Barclays cut their price target on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and an average price target of $32.63.

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.