State Street Corp Grows Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

State Street Corp grew its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 15.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,844,859 shares of the business services provider's stock after acquiring an additional 3,920,975 shares during the quarter. State Street Corp owned about 8.01% of Interpublic Group of Companies worth $943,993,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider's stock worth $42,657,000 after purchasing an additional 1,248,062 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Interpublic Group of Companies by 19.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider's stock worth $158,157,000 after buying an additional 899,332 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Interpublic Group of Companies by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider's stock worth $199,063,000 after acquiring an additional 828,150 shares in the last quarter. Squarepoint Ops LLC lifted its position in Interpublic Group of Companies by 168.3% during the second quarter. Squarepoint Ops LLC now owns 831,434 shares of the business services provider's stock valued at $24,186,000 after acquiring an additional 521,546 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Interpublic Group of Companies by 177.3% during the 3rd quarter. SG Americas Securities LLC now owns 705,703 shares of the business services provider's stock valued at $22,321,000 after purchasing an additional 451,205 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG traded down $0.22 during midday trading on Friday, reaching $29.26. 3,557,588 shares of the company's stock traded hands, compared to its average volume of 5,146,327. The company has a fifty day simple moving average of $30.15 and a two-hundred day simple moving average of $30.41. The Interpublic Group of Companies, Inc. has a 1 year low of $26.88 and a 1 year high of $35.17. The company has a market cap of $10.90 billion, a P/E ratio of 13.80 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 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 business had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.30 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The company's quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.51%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 62.26%.

Analysts Set New Price Targets

A number of research firms recently commented on IPG. BNP Paribas downgraded Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a report on Monday, September 30th. Macquarie reaffirmed a "neutral" rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. UBS Group downgraded shares of Interpublic Group of Companies from a "neutral" rating to a "sell" rating and decreased their target price for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. cut Interpublic Group of Companies from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.