AMF Tjanstepension AB Has $8.01 Million Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

AMF Tjanstepension AB raised its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 70.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 253,172 shares of the business services provider’s stock after purchasing an additional 104,514 shares during the quarter. AMF Tjanstepension AB’s holdings in Interpublic Group of Companies were worth $8,008,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IPG. JLB & Associates Inc. grew its holdings in Interpublic Group of Companies by 5.6% during the third quarter. JLB & Associates Inc. now owns 13,801 shares of the business services provider’s stock valued at $437,000 after purchasing an additional 738 shares during the period. Mattson Financial Services LLC acquired a new stake in Interpublic Group of Companies in the second quarter worth $1,091,000. Sanctuary Advisors LLC bought a new position in shares of Interpublic Group of Companies during the second quarter worth $1,462,000. Brown Financial Advisors acquired a new position in shares of Interpublic Group of Companies in the 2nd quarter valued at $656,000. Finally, Aurora Investment Counsel increased its position in shares of Interpublic Group of Companies by 14.5% in the 2nd quarter. Aurora Investment Counsel now owns 50,512 shares of the business services provider’s stock valued at $1,469,000 after buying an additional 6,408 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $31.07 on Thursday. The firm’s 50 day moving average is $31.24 and its 200-day moving average is $30.88. 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 company has a market capitalization of $11.73 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 5.23 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results 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 firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the business earned $0.74 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. Equities research 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.25%. Interpublic Group of Companies’s payout ratio is presently 46.98%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IPG shares. Barclays reduced their target price on Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating on the stock in a report on Wednesday. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $34.00 to $29.00 in a report on Thursday, September 12th. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $33.00 in a research note on Tuesday. Bank of America dropped their target price 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, Macquarie cut their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $32.44.

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.