Proquility Private Wealth Partners LLC Purchases 4,121 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Proquility Private Wealth Partners LLC increased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,097 shares of the business services provider’s stock after purchasing an additional 4,121 shares during the quarter. Proquility Private Wealth Partners LLC’s holdings in Interpublic Group of Companies were worth $1,838,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Millennium Management LLC lifted its position in shares of Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after buying an additional 1,248,062 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Interpublic Group of Companies by 19.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after purchasing an additional 899,332 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Interpublic Group of Companies by 101.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock worth $55,162,000 after purchasing an additional 853,287 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Interpublic Group of Companies by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after purchasing an additional 828,150 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Interpublic Group of Companies in the first quarter valued at about $20,493,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Down 0.7 %

NYSE IPG opened at $31.40 on Wednesday. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $35.17. The business has a fifty day moving average price of $31.28 and a two-hundred day moving average price of $30.77. 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 $11.85 billion, a PE ratio of 11.26, a PEG ratio of 5.18 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly 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 company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.83 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

Analyst Ratings Changes

IPG has been the subject of several research analyst reports. Macquarie reduced their target price on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Bank of America dropped their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $34.00 to $28.00 in a report on Monday, July 22nd. Barclays dropped their price target on shares of Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Finally, BNP Paribas cut Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and a consensus price target of $32.44.

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.