Bank of Montreal Can Has $17.76 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Bank of Montreal Can raised its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 609,002 shares of the business services provider’s stock after buying an additional 65,492 shares during the quarter. Bank of Montreal Can owned 0.16% of Interpublic Group of Companies worth $17,758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IPG. Benjamin Edwards Inc. grew its holdings in Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 375 shares during the period. Hazlett Burt & Watson Inc. grew its holdings in shares of Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after buying an additional 900 shares during the period. Voisard Asset Management Group Inc. bought a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at $31,000. International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies during the 2nd quarter worth $32,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after acquiring an additional 405 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $31.62 on Friday. The firm has a market cap of $11.93 billion, a PE ratio of 11.25, a P/E/G ratio of 5.23 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 12 month low of $27.20 and a 12 month high of $35.17. The company’s fifty day simple moving average is $31.14 and its 200-day simple moving average is $30.92. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the business posted $0.74 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Barclays lowered their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Bank of America cut their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Macquarie lowered their price objective on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of 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 investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

About Interpublic Group of Companies

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.