Raymond James & Associates Purchases 32,053 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Raymond James & Associates increased its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,620,392 shares of the business services provider's stock after purchasing an additional 32,053 shares during the period. Raymond James & Associates owned approximately 0.43% of Interpublic Group of Companies worth $51,253,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. boosted its stake in shares of Interpublic Group of Companies by 73.8% during the 2nd 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 period. Hazlett Burt & Watson Inc. boosted its stake in shares of Interpublic Group of Companies by 652.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider's stock worth $30,000 after purchasing an additional 900 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Interpublic Group of Companies during the 2nd quarter worth about $32,000. EverSource Wealth Advisors LLC boosted its stake in shares of Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider's stock worth $38,000 after purchasing an additional 405 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Interpublic Group of Companies during the 1st quarter worth about $42,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 5.8 %

Shares of NYSE:IPG traded down $1.85 during trading hours on Tuesday, hitting $29.78. The company's stock had a trading volume of 9,295,285 shares, compared to its average volume of 3,935,047. The Interpublic Group of Companies, Inc. has a 52 week low of $27.53 and a 52 week 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. The company has a market capitalization of $11.24 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 5.18 and a beta of 1.09. The firm's fifty day moving average price is $31.39 and its 200 day moving average price is $30.75.

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 EPS for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The company's quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts expect that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.43%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 46.98%.

Analyst Ratings Changes

IPG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Macquarie reissued a "neutral" rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday. Bank of America lowered 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. Wells Fargo & Company reissued an "underweight" rating and issued a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday. Finally, Morgan Stanley cut shares of Interpublic Group of Companies from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.81.

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.