Summit Place Financial Advisors LLC Acquires 10,425 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Summit Place Financial Advisors LLC lifted its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 18.1% during the third quarter, HoldingsChannel.com reports. The firm owned 68,000 shares of the business services provider’s stock after purchasing an additional 10,425 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Interpublic Group of Companies were worth $2,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its holdings in Interpublic Group of Companies by 5.0% in the third quarter. State of Alaska Department of Revenue now owns 43,630 shares of the business services provider’s stock worth $1,380,000 after acquiring an additional 2,075 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Interpublic Group of Companies by 64.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 143,481 shares of the business services provider’s stock worth $4,380,000 after purchasing an additional 56,210 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Interpublic Group of Companies by 3.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 48,648 shares of the business services provider’s stock worth $1,539,000 after purchasing an additional 1,721 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in Interpublic Group of Companies by 9.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 104,952 shares of the business services provider’s stock worth $3,320,000 after purchasing an additional 8,903 shares in the last quarter. Finally, Forsta AP Fonden grew its position in Interpublic Group of Companies by 4.8% during the 3rd quarter. Forsta AP Fonden now owns 197,300 shares of the business services provider’s stock valued at $6,241,000 after purchasing an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $29.80 on Monday. The firm has a market capitalization of $11.25 billion, a P/E ratio of 10.60, a PEG ratio of 4.97 and a beta of 1.09. 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 Interpublic Group of Companies, Inc. has a one year low of $27.54 and a one year high of $35.17. The business has a fifty day moving average of $31.33 and a 200 day moving average of $30.72.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.51% and a net margin of 7.44%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the company posted $0.70 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.33 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.43%. Interpublic Group of Companies’s payout ratio is presently 46.98%.

Analyst Upgrades and Downgrades

IPG has been the subject of several recent analyst reports. Bank of America decreased their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company restated an “underweight” rating and issued a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their target price for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Finally, Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.57.

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.