Interpublic Group of Companies (NYSE:IPG) Price Target Cut to €33.00 by Analysts at Barclays

Interpublic Group of Companies (NYSE:IPGGet Rating) had its price target reduced by Barclays from €35.00 ($35.71) to €33.00 ($33.67) in a report issued on Friday morning, The Fly reports. Barclays currently has an equal weight rating on the business services provider’s stock.

A number of other equities analysts have also issued reports on the stock. Macquarie lowered shares of Interpublic Group of Companies from an outperform rating to a neutral rating in a research report on Thursday, June 23rd. JPMorgan Chase & Co. decreased their price target on shares of Interpublic Group of Companies from $45.00 to $37.00 and set an overweight rating on the stock in a research note on Friday, July 8th. Redburn Partners reiterated a neutral rating on shares of Interpublic Group of Companies in a research note on Thursday, September 8th. Wells Fargo & Company lifted their price target on shares of Interpublic Group of Companies to $36.00 in a research note on Friday, July 22nd. Finally, ING Group assumed coverage on shares of Interpublic Group of Companies in a research note on Thursday, September 8th. They set a buy rating on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $36.56.

Interpublic Group of Companies Trading Down 1.9 %

Shares of IPG stock opened at $27.30 on Friday. Interpublic Group of Companies has a 1 year low of $26.36 and a 1 year high of $39.98. The firm’s fifty day simple moving average is $28.85 and its 200 day simple moving average is $31.12. The firm has a market capitalization of $10.68 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 8.86 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.83.

Interpublic Group of Companies (NYSE:IPGGet Rating) last announced its earnings results on Thursday, July 21st. The business services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Interpublic Group of Companies had a net margin of 9.16% and a return on equity of 29.37%. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Interpublic Group of Companies’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Interpublic Group of Companies will post 2.71 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.16 annualized dividend and a yield of 4.25%. Interpublic Group of Companies’s dividend payout ratio (DPR) is 46.77%.

Insider Buying and Selling

In related news, Director Jocelyn Carter-Miller sold 6,500 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $30.00, for a total transaction of $195,000.00. Following the transaction, the director now owns 38,214 shares in the company, valued at approximately $1,146,420. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DNB Asset Management AS raised its holdings in Interpublic Group of Companies by 3.1% during the 1st quarter. DNB Asset Management AS now owns 103,468 shares of the business services provider’s stock worth $3,668,000 after purchasing an additional 3,115 shares during the last quarter. SG Americas Securities LLC raised its holdings in Interpublic Group of Companies by 145.1% during the 1st quarter. SG Americas Securities LLC now owns 19,814 shares of the business services provider’s stock worth $702,000 after purchasing an additional 11,731 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in Interpublic Group of Companies by 5.9% during the 1st quarter. Elo Mutual Pension Insurance Co now owns 30,968 shares of the business services provider’s stock worth $1,098,000 after purchasing an additional 1,712 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Interpublic Group of Companies during the 1st quarter worth about $1,440,000. Finally, Pitcairn Co. raised its holdings in Interpublic Group of Companies by 6.4% during the 1st quarter. Pitcairn Co. now owns 26,750 shares of the business services provider’s stock worth $948,000 after purchasing an additional 1,616 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

About Interpublic Group of Companies

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The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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