The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Purchased by abrdn plc

abrdn plc grew its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 524,709 shares of the business services provider’s stock after acquiring an additional 7,354 shares during the quarter. abrdn plc owned about 0.14% of Interpublic Group of Companies worth $16,528,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Benjamin Edwards Inc. increased its position in Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after buying an additional 900 shares during the period. International Assets Investment Management LLC acquired a new position in Interpublic Group of Companies in the second quarter valued at $32,000. EverSource Wealth Advisors LLC grew its position in Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 405 shares during the period. Finally, Quest Partners LLC acquired a new stake in Interpublic Group of Companies during the second quarter worth about $39,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Interpublic Group of Companies Price Performance

IPG opened at $29.48 on Friday. The Interpublic Group of Companies, Inc. has a twelve month low of $28.00 and a twelve month high of $35.17. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 5.01 and a beta of 1.09. 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 company has a fifty day simple moving average of $31.15 and a 200 day simple moving average of $30.69.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the firm earned $0.70 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm 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 $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 62.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IPG shares. BNP Paribas lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Thursday. 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 for the company in a research report on Thursday, September 5th. Barclays reduced their target price on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and an average price target of $30.57.

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.