The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 73.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 355,327 shares of the business services provider’s stock after selling 1,000,694 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Interpublic Group of Companies were worth $11,239,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Benjamin Edwards Inc. grew its holdings 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 acquiring an additional 375 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Interpublic Group of Companies during the 3rd quarter worth $26,000. Hazlett Burt & Watson Inc. increased its holdings 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 valued at $30,000 after purchasing an additional 900 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Interpublic Group of Companies during the second quarter worth about $32,000. Finally, Ashton Thomas Securities LLC acquired a new position in Interpublic Group of Companies during the third quarter worth about $32,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

NYSE:IPG opened at $30.12 on Tuesday. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 14.21 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17. 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’s 50-day moving average is $30.29 and its two-hundred day moving average is $30.47.

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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business earned $0.70 earnings per share. Interpublic Group of Companies’s revenue was down 2.9% compared to the same quarter last year. Research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.38%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Macquarie restated a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Finally, 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 for the company in a report on Thursday, September 5th. 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 company’s stock. Based on data from MarketBeat, the company 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.