The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC raised its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 311.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 137,915 shares of the business services provider’s stock after buying an additional 104,420 shares during the period. Verition Fund Management LLC’s holdings in Interpublic Group of Companies were worth $4,362,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Interpublic Group of Companies by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock worth $393,064,000 after buying an additional 270,857 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Interpublic Group of Companies by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after purchasing an additional 828,150 shares in the last quarter. Ariel Investments LLC lifted its stake in Interpublic Group of Companies by 3.5% in the 2nd quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock worth $166,117,000 after purchasing an additional 193,898 shares in the last quarter. American Century Companies Inc. lifted its stake in Interpublic Group of Companies by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock worth $163,049,000 after purchasing an additional 255,250 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake 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 worth $158,157,000 after purchasing an additional 899,332 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on IPG shares. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. 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. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Interpublic Group of Companies currently has an average rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Stock Down 0.7 %

IPG stock opened at $29.90 on Wednesday. The firm has a market cap of $11.14 billion, a PE ratio of 14.10 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. The firm’s 50 day moving average price is $30.26 and its 200-day moving average price is $30.46. The Interpublic Group of Companies, Inc. has a one year low of $26.88 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 analysts’ consensus estimates of $0.70. The company had revenue of $2.24 billion for 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 firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 earnings per share. On average, equities research 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 company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 62.26%.

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.