Fmr LLC Has $517.50 Million Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Fmr LLC reduced its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 18.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,361,030 shares of the business services provider’s stock after selling 3,618,031 shares during the period. Fmr LLC owned about 4.39% of Interpublic Group of Companies worth $517,499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Interpublic Group of Companies by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,426,923 shares of the business services provider’s stock worth $393,064,000 after purchasing an additional 270,857 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Interpublic Group of Companies by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after buying an additional 828,150 shares during the period. Ariel Investments LLC boosted its stake in Interpublic Group of Companies by 3.5% in the 2nd quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock valued at $166,117,000 after buying an additional 193,898 shares in the last quarter. American Century Companies Inc. grew its position in Interpublic Group of Companies by 4.8% in the second quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock valued at $163,049,000 after acquiring an additional 255,250 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Interpublic Group of Companies by 19.8% during the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after acquiring an additional 899,332 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IPG shares. Macquarie reaffirmed a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Bank of America decreased their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Finally, Barclays dropped their price target on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies currently has an average rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $30.81 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $30.31 and a 200 day simple moving average of $30.50. The Interpublic Group of Companies, Inc. has a fifty-two week low of $26.88 and a fifty-two week high of $35.17. The firm has a market cap of $11.48 billion, a P/E ratio of 14.53 and a beta of 1.10.

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 the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the firm earned $0.70 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.28%. Interpublic Group of Companies’s payout ratio is presently 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.