JPMorgan Chase & Co. Has $85.59 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

JPMorgan Chase & Co. decreased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 6.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,706,067 shares of the business services provider’s stock after selling 197,349 shares during the period. JPMorgan Chase & Co. owned about 0.73% of Interpublic Group of Companies worth $85,593,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IPG. Benjamin Edwards Inc. lifted 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 worth $26,000 after buying an additional 375 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Interpublic Group of Companies during the third quarter valued at $26,000. Hazlett Burt & Watson Inc. grew its stake in Interpublic Group of Companies by 652.2% in the second 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 in the last quarter. International Assets Investment Management LLC acquired a new position in Interpublic Group of Companies in the 2nd quarter worth about $32,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $32,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Up 0.4 %

Shares of IPG stock opened at $28.13 on Friday. The stock has a 50 day moving average of $29.33 and a 200-day moving average of $30.17. The firm has a market cap of $10.48 billion, a PE ratio of 13.27 and a beta of 1.10. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12 month low of $26.88 and a 12 month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company posted $0.70 earnings per share. Interpublic Group of Companies’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.69%. The ex-dividend date was Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IPG shares. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. Macquarie restated a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. StockNews.com assumed coverage on Interpublic Group of Companies in a research note on Friday, December 27th. They set a “hold” rating for the company. Finally, Bank of America reduced 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. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus target price of $31.71.

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.