Peapack Gladstone Financial Corp Has $10.66 Million Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Peapack Gladstone Financial Corp increased its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 336,896 shares of the business services provider’s stock after acquiring an additional 9,567 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Interpublic Group of Companies were worth $10,657,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in IPG. Sequoia Financial Advisors LLC raised its stake in shares of Interpublic Group of Companies by 14.4% during the second quarter. Sequoia Financial Advisors LLC now owns 8,011 shares of the business services provider’s stock valued at $233,000 after acquiring an additional 1,011 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Interpublic Group of Companies by 30.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,781 shares of the business services provider’s stock valued at $517,000 after purchasing an additional 4,146 shares during the period. Assenagon Asset Management S.A. raised its position in Interpublic Group of Companies by 382.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 65,871 shares of the business services provider’s stock worth $1,916,000 after purchasing an additional 52,214 shares during the last quarter. Blue Trust Inc. lifted its holdings in Interpublic Group of Companies by 484.1% during the 2nd quarter. Blue Trust Inc. now owns 8,622 shares of the business services provider’s stock worth $251,000 after buying an additional 7,146 shares during the period. Finally, TCW Group Inc. grew its position in shares of Interpublic Group of Companies by 107.6% in the 2nd quarter. TCW Group Inc. now owns 97,595 shares of the business services provider’s stock valued at $2,839,000 after buying an additional 50,592 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IPG has been the subject of a number of analyst reports. 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. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $26.00 to $34.00 in a report on Tuesday. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. 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. Finally, Bank of America cut their price target on shares of 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. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.71.

Interpublic Group of Companies Stock Up 0.4 %

Interpublic Group of Companies stock opened at $29.89 on Friday. The company has a market capitalization of $11.13 billion, a PE ratio of 14.10 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17. The firm’s fifty day moving average is $30.06 and its 200 day moving average is $30.38. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data 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 firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued 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 4.42%. Interpublic Group of Companies’s payout ratio is currently 62.26%.

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.