Raymond James Trust N.A. Boosts Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Raymond James Trust N.A. increased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 13.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,906 shares of the business services provider’s stock after buying an additional 4,601 shares during the period. Raymond James Trust N.A.’s holdings in Interpublic Group of Companies were worth $1,262,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IPG. 1832 Asset Management L.P. lifted its position in shares of Interpublic Group of Companies by 3.5% in the first quarter. 1832 Asset Management L.P. now owns 50,695 shares of the business services provider’s stock worth $1,654,000 after buying an additional 1,718 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Interpublic Group of Companies by 1.7% in the first quarter. California State Teachers Retirement System now owns 641,724 shares of the business services provider’s stock worth $20,939,000 after buying an additional 10,620 shares in the last quarter. Redwood Investment Management LLC lifted its position in shares of Interpublic Group of Companies by 4.0% in the first quarter. Redwood Investment Management LLC now owns 67,210 shares of the business services provider’s stock worth $2,193,000 after buying an additional 2,603 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Interpublic Group of Companies by 68.0% in the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock worth $3,949,000 after buying an additional 48,996 shares in the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in shares of Interpublic Group of Companies in the first quarter worth about $244,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IPG shares. Wells Fargo & Company restated an “underweight” rating and set a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Bank of America decreased their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Barclays decreased their price objective on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Macquarie restated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies Trading Up 1.5 %

IPG opened at $29.58 on Monday. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 13.95 and a beta of 1.10. The stock’s 50 day moving average price is $30.37 and its 200-day moving average price is $30.51. The Interpublic Group of Companies, Inc. has a one year low of $26.88 and a one year high of $35.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.46%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 62.26%.

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.