LPL Financial LLC Acquires 34,753 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

LPL Financial LLC raised its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 500,207 shares of the business services provider’s stock after acquiring an additional 34,753 shares during the quarter. LPL Financial LLC owned about 0.14% of Interpublic Group of Companies worth $13,586,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IPG. Canada Pension Plan Investment Board lifted its position in Interpublic Group of Companies by 139.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider’s stock valued at $370,157,000 after acquiring an additional 7,693,636 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Interpublic Group of Companies during the 4th quarter worth approximately $51,794,000. Calamos Advisors LLC purchased a new position in Interpublic Group of Companies in the 1st quarter valued at approximately $46,172,000. First Trust Advisors LP grew its stake in Interpublic Group of Companies by 13.0% in the 4th quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider’s stock valued at $363,584,000 after buying an additional 1,492,019 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Interpublic Group of Companies by 14.8% in the 4th quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider’s stock valued at $287,618,000 after buying an additional 1,320,345 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Interpublic Group of Companies stock opened at $24.95 on Thursday. The firm has a fifty day simple moving average of $24.37 and a two-hundred day simple moving average of $25.52. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The company has a market capitalization of $9.14 billion, a PE ratio of 21.14 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. Interpublic Group of Companies’s payout ratio is currently 111.86%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays lowered shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $34.00 to $27.50 in a research report on Wednesday, June 25th. Wall Street Zen assumed coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a “hold” rating for the company. UBS Group reduced their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Finally, Citigroup reaffirmed a “buy” rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average target price of $32.39.

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.