Hardy Reed LLC Takes $203,000 Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Hardy Reed LLC purchased a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,420 shares of the business services provider’s stock, valued at approximately $203,000.

Other institutional investors also recently bought and sold shares of the company. Boston Trust Walden Corp raised its stake in shares of Interpublic Group of Companies by 3.0% in the second quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after acquiring an additional 34,965 shares during the period. Tidal Investments LLC lifted its stake in Interpublic Group of Companies by 68.0% in the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock worth $3,949,000 after purchasing an additional 48,996 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Interpublic Group of Companies by 176.5% during the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock valued at $7,403,000 after buying an additional 162,468 shares during the period. Andra AP fonden grew its stake in shares of Interpublic Group of Companies by 16.2% during the second quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock valued at $15,479,000 after buying an additional 74,200 shares during the last quarter. Finally, M&G Plc purchased a new stake in shares of Interpublic Group of Companies in the second quarter worth approximately $605,000. 98.43% of the stock is currently owned by institutional investors.

Interpublic Group of Companies Trading Down 0.1 %

NYSE IPG opened at $30.64 on Wednesday. The company’s 50-day simple moving average is $30.35 and its two-hundred day simple moving average is $30.50. The Interpublic Group of Companies, Inc. has a one year low of $26.88 and a one year high of $35.17. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 14.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. Interpublic Group of Companies’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 firm posted $0.70 earnings per share. Equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 62.26%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IPG. Barclays cut their price objective on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Macquarie reissued a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.57.

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.