The Interpublic Group of Companies, Inc. (NYSE:IPG) Holdings Lowered by Commerce Bank

Commerce Bank trimmed its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 8.9% during the third quarter, Holdings Channel reports. The institutional investor owned 1,006,099 shares of the business services provider’s stock after selling 98,332 shares during the period. Commerce Bank’s holdings in Interpublic Group of Companies were worth $31,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC raised its holdings in shares of Interpublic Group of Companies by 571.7% in the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after purchasing an additional 1,248,062 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Interpublic Group of Companies by 19.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after purchasing an additional 899,332 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Interpublic Group of Companies by 101.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock worth $55,162,000 after purchasing an additional 853,287 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Interpublic Group of Companies by 13.8% in 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 purchasing an additional 828,150 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Interpublic Group of Companies in the 1st quarter worth approximately $20,493,000. 98.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Macquarie reiterated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Wells Fargo & Company reissued an “underweight” rating and issued a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Finally, 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 research report on Thursday, September 5th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $27.66 on Wednesday. The firm has a fifty day simple moving average of $30.55 and a 200-day simple moving average of $30.57. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 1-year low of $26.88 and a 1-year high of $35.17. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 13.05 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. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $0.70 EPS. On average, sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm 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. This represents a $1.32 annualized dividend and a yield of 4.77%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 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.