State of Alaska Department of Revenue Buys 2,075 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

State of Alaska Department of Revenue increased its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 5.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,630 shares of the business services provider’s stock after acquiring an additional 2,075 shares during the period. State of Alaska Department of Revenue’s holdings in Interpublic Group of Companies were worth $1,380,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Millennium Management LLC lifted its position in Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after purchasing an additional 1,248,062 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Interpublic Group of Companies by 19.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after buying an additional 899,332 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Interpublic Group of Companies by 101.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock valued at $55,162,000 after buying an additional 853,287 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 acquiring an additional 828,150 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Interpublic Group of Companies in the first quarter valued at about $20,493,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Up 0.3 %

Shares of Interpublic Group of Companies stock opened at $29.48 on Monday. The Interpublic Group of Companies, Inc. has a 1 year low of $28.00 and a 1 year high of $35.17. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 4.92 and a beta of 1.10. The company has a 50-day moving average of $31.15 and a 200 day moving average of $30.70. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

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 for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.48%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 62.26%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies 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.