Manning & Napier Advisors LLC Purchases New Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Manning & Napier Advisors LLC purchased a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 133,770 shares of the business services provider’s stock, valued at approximately $3,891,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System boosted its position in Interpublic Group of Companies by 0.5% in the fourth quarter. Arizona State Retirement System now owns 105,796 shares of the business services provider’s stock valued at $3,453,000 after buying an additional 478 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Interpublic Group of Companies in the 4th quarter worth approximately $1,525,000. Mirae Asset Global Investments Co. Ltd. grew its position in Interpublic Group of Companies by 85.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 229,511 shares of the business services provider’s stock worth $7,491,000 after acquiring an additional 105,858 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Interpublic Group of Companies by 4.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 71,084 shares of the business services provider’s stock valued at $2,320,000 after purchasing an additional 3,329 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in Interpublic Group of Companies by 4.6% in the 4th quarter. Bleakley Financial Group LLC now owns 7,364 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 327 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Trading Down 0.1 %

Shares of Interpublic Group of Companies stock traded down $0.03 on Friday, hitting $30.41. 2,496,791 shares of the company’s stock traded hands, compared to its average volume of 4,041,197. The firm’s 50-day moving average price is $29.83 and its two-hundred day moving average price is $31.14. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. The stock has a market capitalization of $11.48 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 3.29 and a beta of 1.12. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year high of $35.17.

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

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.34%. The ex-dividend date is Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IPG. JPMorgan Chase & Co. lowered their target price on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Macquarie reduced their target price on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $34.00 to $28.00 in a report on Monday, July 22nd. Barclays reduced their price objective on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Finally, Wells Fargo & Company lowered their target price on Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.13.

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.