M&G Plc Makes New $605,000 Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

M&G Plc bought a new position in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 20,869 shares of the business services provider’s stock, valued at approximately $605,000.

A number of other institutional investors have also bought and sold shares of IPG. Raymond James Financial Services Advisors Inc. raised its position in shares of Interpublic Group of Companies by 13.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 405,652 shares of the business services provider’s stock valued at $13,236,000 after buying an additional 49,509 shares during the period. BNP Paribas Financial Markets increased its holdings in Interpublic Group of Companies by 15.0% in the 1st quarter. BNP Paribas Financial Markets now owns 989,318 shares of the business services provider’s stock valued at $32,281,000 after purchasing an additional 129,215 shares during the last quarter. Cowen AND Company LLC acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at approximately $871,000. Norges Bank acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at approximately $32,620,000. Finally, Alaska Permanent Fund Corp grew its stake in shares of Interpublic Group of Companies by 305.6% in the first quarter. Alaska Permanent Fund Corp now owns 54,129 shares of the business services provider’s stock worth $1,766,000 after acquiring an additional 40,785 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Trading Up 0.6 %

NYSE IPG opened at $30.69 on Wednesday. The stock has a market capitalization of $11.58 billion, a P/E ratio of 10.92, a P/E/G ratio of 3.29 and a beta of 1.12. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17. The firm has a 50-day moving average price of $29.81 and a 200 day moving average price of $31.09. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75.

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 the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.30%. Interpublic Group of Companies’s dividend payout ratio is presently 46.98%.

Analyst Ratings Changes

IPG has been the subject of several research reports. Macquarie dropped their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Bank of America dropped their price target on shares of Interpublic Group of Companies from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Wells Fargo & Company lowered their target price 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 note on Thursday, April 25th. Barclays lowered their target price on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.