Handelsbanken Fonder AB Purchases 15,500 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Handelsbanken Fonder AB boosted its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,200 shares of the business services provider’s stock after buying an additional 15,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Interpublic Group of Companies were worth $2,948,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. raised its position 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 valued at $313,000 after buying an additional 321 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in Interpublic Group of Companies by 3.3% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider’s stock valued at $356,000 after buying an additional 347 shares during the last quarter. Richardson Financial Services Inc. raised its position in Interpublic Group of Companies by 8.4% in the 1st quarter. Richardson Financial Services Inc. now owns 4,530 shares of the business services provider’s stock valued at $148,000 after buying an additional 350 shares during the last quarter. Benjamin Edwards Inc. raised its position 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 valued at $26,000 after buying an additional 375 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Interpublic Group of Companies by 2.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock valued at $494,000 after buying an additional 382 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $30.87 on Wednesday. The stock has a market cap of $11.65 billion, a PE ratio of 11.00, a P/E/G ratio of 5.23 and a beta of 1.09. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07. The firm has a 50-day moving average of $31.23 and a 200-day moving average of $30.83. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, beating 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 company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.28%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Analyst Ratings Changes

Several research analysts have weighed in on IPG shares. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Macquarie dropped their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Barclays cut their price target on shares of Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Finally, Bank of America lowered their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.44.

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.