Short Interest in The Interpublic Group of Companies, Inc. (NYSE:IPG) Drops By 5.7%

The Interpublic Group of Companies, Inc. (NYSE:IPG) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 26,160,000 shares, a decrease of 5.7% from the October 15th total of 27,730,000 shares. Currently, 7.1% of the shares of the company are sold short. Based on an average trading volume of 3,610,000 shares, the short-interest ratio is currently 7.2 days.

Interpublic Group of Companies Trading Up 1.6 %

Shares of Interpublic Group of Companies stock opened at $27.53 on Tuesday. The stock has a market capitalization of $10.25 billion, a P/E ratio of 12.98 and a beta of 1.10. Interpublic Group of Companies has a 52-week low of $26.88 and a 52-week high of $35.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50-day simple moving average is $30.62 and its 200 day simple moving average is $30.59.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The company 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 company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. As a group, research analysts anticipate that Interpublic Group of Companies will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.80%. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Analyst Ratings Changes

A number of brokerages recently commented on IPG. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. Wells Fargo & Company reiterated an “underweight” rating and set a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Macquarie restated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $34.00 to $28.00 in a research note on Monday, July 22nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.57.

Hedge Funds Weigh In On Interpublic Group of Companies

Several hedge funds have recently made changes to their positions in IPG. Boston Trust Walden Corp boosted its stake in Interpublic Group of Companies by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock worth $34,532,000 after purchasing an additional 34,965 shares during the period. Tidal Investments LLC boosted its position in shares of Interpublic Group of Companies by 68.0% in the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock valued at $3,949,000 after acquiring an additional 48,996 shares during the period. SG Americas Securities LLC grew its stake in Interpublic Group of Companies by 176.5% during the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock valued at $7,403,000 after acquiring an additional 162,468 shares in the last quarter. Andra AP fonden increased its holdings in Interpublic Group of Companies by 16.2% during the 2nd quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock worth $15,479,000 after acquiring an additional 74,200 shares during the period. Finally, M&G Plc purchased a new stake in Interpublic Group of Companies in the 2nd quarter worth approximately $605,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

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.