Hartford Investment Management Co. Has $744,000 Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Hartford Investment Management Co. lessened its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,527 shares of the business services provider’s stock after selling 632 shares during the quarter. Hartford Investment Management Co.’s holdings in Interpublic Group of Companies were worth $744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in shares of Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after buying an additional 1,248,062 shares during the period. Canada Pension Plan Investment Board boosted its stake in 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 during the period. Jacobs Levy Equity Management Inc. increased its holdings in Interpublic Group of Companies by 101.9% during 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 stake 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 valued at $199,063,000 after purchasing an additional 828,150 shares during the period. Finally, Swedbank AB bought a new stake in shares of Interpublic Group of Companies in the first quarter valued at about $20,493,000. 98.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IPG has been the subject of a number of research reports. Macquarie reiterated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. StockNews.com downgraded shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $29.80 on Friday. The company has a market cap of $11.19 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 4.97 and a beta of 1.09. The firm has a 50-day moving average of $31.33 and a 200-day moving average of $30.73. The Interpublic Group of Companies, Inc. has a one year low of $27.54 and a one year high of $35.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting 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 firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.83 earnings per share 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 issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.43%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is 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.