Magnetar Financial LLC Has $2.70 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Magnetar Financial LLC raised its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 595.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,765 shares of the business services provider’s stock after acquiring an additional 70,856 shares during the period. Magnetar Financial LLC’s holdings in Interpublic Group of Companies were worth $2,701,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of IPG. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at approximately $29,000. Voisard Asset Management Group Inc. bought a new position in Interpublic Group of Companies in the 4th quarter valued at approximately $31,000. Tobam boosted its position in Interpublic Group of Companies by 2,340.0% in the fourth quarter. Tobam now owns 1,098 shares of the business services provider’s stock valued at $36,000 after buying an additional 1,053 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Interpublic Group of Companies by 2,024.6% in the 1st quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 1,235 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Interpublic Group of Companies during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Up 2.4 %

IPG stock traded up $0.72 during midday trading on Friday, hitting $30.98. The stock had a trading volume of 5,374,974 shares, compared to its average volume of 4,266,251. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $35.24. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The business has a fifty day moving average price of $29.97 and a two-hundred day moving average price of $31.23. The firm has a market cap of $11.64 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 3.29 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. On average, sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.26%. The ex-dividend date was Tuesday, June 4th. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 46.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley downgraded Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Bank of America cut their target price on shares of Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Wells Fargo & Company decreased their price target on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Barclays reduced their price objective on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.13.

Interpublic Group of Companies 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.