GAMMA Investing LLC Increases Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

GAMMA Investing LLC grew its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 31.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,713 shares of the business services provider’s stock after purchasing an additional 886 shares during the quarter. GAMMA Investing LLC’s holdings in Interpublic Group of Companies were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in IPG. Quarry LP increased its position in Interpublic Group of Companies by 26.0% in the fourth quarter. Quarry LP now owns 2,052 shares of the business services provider’s stock worth $67,000 after buying an additional 423 shares in the last quarter. Voisard Asset Management Group Inc. bought a new position in shares of Interpublic Group of Companies during the 4th quarter valued at approximately $31,000. Syon Capital LLC increased its holdings in Interpublic Group of Companies by 19.4% in the 4th quarter. Syon Capital LLC now owns 8,950 shares of the business services provider’s stock worth $292,000 after acquiring an additional 1,453 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in Interpublic Group of Companies during the 4th quarter worth approximately $136,000. Finally, Wellington Management Group LLP lifted its holdings in Interpublic Group of Companies by 41.2% during the fourth quarter. Wellington Management Group LLP now owns 886,121 shares of the business services provider’s stock valued at $28,923,000 after purchasing an additional 258,725 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IPG. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Bank of America decreased their price target on 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. Barclays dropped their price objective on Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Finally, Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Three investment 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’s stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and an average target price of $32.44.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $31.39 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $35.17. The business has a 50 day simple moving average of $31.21 and a two-hundred day simple moving average of $30.79. The stock has a market capitalization of $11.85 billion, a PE ratio of 11.17, a P/E/G ratio of 5.18 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. Interpublic Group of Companies’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. On average, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is 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.