Raymond James Trust N.A. Purchases 6,827 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Raymond James Trust N.A. boosted its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 24.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 35,305 shares of the business services provider’s stock after purchasing an additional 6,827 shares during the period. Raymond James Trust N.A.’s holdings in Interpublic Group of Companies were worth $1,027,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Interpublic Group of Companies by 12.1% during the 1st quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock worth $459,975,000 after buying an additional 1,516,975 shares during the period. First Trust Advisors LP increased its stake in shares of Interpublic Group of Companies by 12.7% during the fourth quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock worth $225,954,000 after purchasing an additional 777,456 shares during the period. Ariel Investments LLC boosted its stake in Interpublic Group of Companies by 2.9% in the 1st quarter. Ariel Investments LLC now owns 5,516,550 shares of the business services provider’s stock valued at $180,005,000 after purchasing an additional 154,355 shares during the period. Dimensional Fund Advisors LP increased its position in Interpublic Group of Companies by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,150,371 shares of the business services provider’s stock worth $168,119,000 after buying an additional 141,828 shares during the period. Finally, Fiduciary Management Inc. WI boosted its position in shares of Interpublic Group of Companies by 4.2% in the fourth quarter. Fiduciary Management Inc. WI now owns 3,797,972 shares of the business services provider’s stock valued at $123,966,000 after acquiring an additional 153,857 shares during the period. Institutional investors own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IPG shares. Macquarie dropped their price target on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Morgan Stanley downgraded Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Barclays lowered their price objective on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Bank of America reduced their target price on Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and an average target price of $34.13.

Interpublic Group of Companies Stock Performance

Shares of IPG traded up $0.35 on Monday, reaching $32.55. 204,151 shares of the company’s stock traded hands, compared to its average volume of 3,913,138. The stock’s 50 day simple moving average is $29.98 and its two-hundred day simple moving average is $31.00. The stock has a market cap of $12.29 billion, a PE ratio of 11.46, a PEG ratio of 3.29 and a beta of 1.12. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. On average, analysts forecast that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.06%. The ex-dividend date is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 46.98%.

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.