Kovitz Investment Group Partners LLC Takes Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kovitz Investment Group Partners LLC purchased a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,270 shares of the business services provider's stock, valued at approximately $578,000.

Several other institutional investors have also recently bought and sold shares of IPG. Worldquant Millennium Advisors LLC grew its position in shares of Interpublic Group of Companies by 29.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 524,794 shares of the business services provider's stock worth $16,599,000 after buying an additional 120,695 shares during the period. Wahed Invest LLC grew its holdings in shares of Interpublic Group of Companies by 10.8% in the 3rd quarter. Wahed Invest LLC now owns 9,146 shares of the business services provider's stock valued at $289,000 after acquiring an additional 895 shares in the last quarter. State Street Corp increased its position in shares of Interpublic Group of Companies by 15.1% in the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider's stock valued at $943,993,000 after acquiring an additional 3,920,975 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in Interpublic Group of Companies during the third quarter worth about $298,000. Finally, Quantinno Capital Management LP grew its stake in Interpublic Group of Companies by 88.3% in the third quarter. Quantinno Capital Management LP now owns 76,591 shares of the business services provider's stock valued at $2,423,000 after purchasing an additional 35,916 shares in the last quarter. Institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

IPG traded up $0.07 on Friday, hitting $29.85. 2,472,381 shares of the stock were exchanged, compared to its average volume of 4,224,176. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a 12 month low of $26.88 and a 12 month high of $35.17. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 14.05 and a beta of 1.10. The business has a 50-day moving average of $30.06 and a two-hundred day moving average of $30.38.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business 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 posted $0.70 EPS. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.42%. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 62.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Macquarie reaffirmed a "neutral" rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Barclays reduced their target price on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. StockNews.com raised shares of Interpublic Group of Companies from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. Bank of America reduced their price objective on 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. Finally, BNP Paribas lowered Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies currently has an average rating of "Hold" and a consensus target price of $31.71.

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.