MQS Management LLC Grows Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

MQS Management LLC grew its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 101.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,874 shares of the business services provider’s stock after purchasing an additional 16,548 shares during the period. Interpublic Group of Companies comprises about 0.6% of MQS Management LLC’s holdings, making the stock its 9th largest holding. MQS Management LLC’s holdings in Interpublic Group of Companies were worth $956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in shares of Interpublic Group of Companies by 652.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after acquiring an additional 900 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $31,000. International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies during the second quarter valued at approximately $32,000. Quest Partners LLC purchased a new position in shares of Interpublic Group of Companies in the second quarter worth $39,000. Finally, Salomon & Ludwin LLC raised its stake in shares of Interpublic Group of Companies by 2,024.6% during the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 1,235 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their price target for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Barclays reduced their price objective on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Bank of America dropped their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Macquarie reduced 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. Finally, JPMorgan Chase & Co. dropped their price target on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.00.

Interpublic Group of Companies Price Performance

IPG stock opened at $31.08 on Thursday. 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 market capitalization of $11.73 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 5.17 and a beta of 1.10. The firm has a 50 day moving average price of $30.93 and a 200-day moving average price of $30.96. 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 released its earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping 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 business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research 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 company 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 4.25%. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

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.