Forum Financial Management LP Takes Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Forum Financial Management LP acquired a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, Holdings Channel reports. The firm acquired 6,497 shares of the business services provider’s stock, valued at approximately $206,000.

Other large investors have also recently added to or reduced their stakes in the company. Norden Group LLC acquired a new position in shares of Interpublic Group of Companies in the first quarter worth $340,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Interpublic Group of Companies by 1.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 232,813 shares of the business services provider’s stock worth $7,772,000 after purchasing an additional 3,302 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Interpublic Group of Companies by 2.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 24,831 shares of the business services provider’s stock worth $810,000 after purchasing an additional 598 shares during the period. Nordea Investment Management AB raised its position in Interpublic Group of Companies by 7.3% in the 1st quarter. Nordea Investment Management AB now owns 25,807 shares of the business services provider’s stock valued at $849,000 after purchasing an additional 1,760 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Interpublic Group of Companies by 4.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 75,227 shares of the business services provider’s stock valued at $2,455,000 after buying an additional 3,047 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IPG. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $34.00 to $28.00 in a report on Monday, July 22nd. Macquarie reaffirmed 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. Barclays lowered their target price on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $29.77 on Wednesday. The firm has a fifty day moving average price of $31.04 and a 200 day moving average price of $30.69. The stock has a market cap of $11.09 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 4.93 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 1-year low of $28.00 and a 1-year high of $35.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. As a group, sell-side analysts anticipate 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. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 62.26%.

Interpublic Group of Companies Company 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.