12,740 Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC acquired a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,740 shares of the business services provider’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC raised its position in shares of Interpublic Group of Companies by 4.5% during the 2nd quarter. ProShare Advisors LLC now owns 70,307 shares of the business services provider’s stock valued at $2,045,000 after acquiring an additional 3,015 shares in the last quarter. Profund Advisors LLC lifted its position in shares of Interpublic Group of Companies by 16.3% in the 2nd quarter. Profund Advisors LLC now owns 12,279 shares of the business services provider’s stock worth $357,000 after buying an additional 1,720 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Interpublic Group of Companies by 4.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 167,945 shares of the business services provider’s stock valued at $4,886,000 after buying an additional 6,425 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Interpublic Group of Companies by 4.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 66,764 shares of the business services provider’s stock valued at $1,942,000 after buying an additional 2,843 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Interpublic Group of Companies by 4.5% during the second quarter. Pacer Advisors Inc. now owns 27,319 shares of the business services provider’s stock worth $795,000 after acquiring an additional 1,188 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on IPG shares. Macquarie lowered their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $34.00 to $28.00 in a research note on Monday, July 22nd. Bank of America dropped their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, Barclays reduced their target price on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies has a consensus rating of “Hold” and an average target price of $33.00.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $31.22 on Wednesday. The firm has a market capitalization of $11.78 billion, a PE ratio of 11.11, a P/E/G ratio of 5.17 and a beta of 1.10. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $31.06 and a 200 day moving average price of $30.93. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the firm posted $0.74 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is presently 46.98%.

About Interpublic Group of Companies

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.