Venturi Wealth Management LLC Has $1.06 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Venturi Wealth Management LLC lifted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 16.3% during the 3rd quarter, Holdings Channel reports. The fund owned 33,460 shares of the business services provider’s stock after acquiring an additional 4,678 shares during the quarter. Venturi Wealth Management LLC’s holdings in Interpublic Group of Companies were worth $1,058,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. boosted its holdings in shares of Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after acquiring an additional 375 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Interpublic Group of Companies in the 3rd quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its position in Interpublic Group of Companies by 652.2% in 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 last quarter. International Assets Investment Management LLC bought a new position in Interpublic Group of Companies in the 2nd quarter worth approximately $32,000. Finally, Ashton Thomas Securities LLC bought a new position in Interpublic Group of Companies in the 3rd quarter worth approximately $32,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Macquarie reiterated a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Barclays dropped 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 research report on Wednesday, October 23rd. StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Morgan Stanley cut shares of 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. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies currently has an average rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Price Performance

IPG opened at $29.62 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12 month low of $28.00 and a 12 month high of $35.17. The company has a fifty day simple moving average of $30.90 and a 200 day simple moving average of $30.67. The stock has a market cap of $11.03 billion, a P/E ratio of 13.97, a P/E/G ratio of 5.01 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. On average, research analysts expect that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is presently 62.26%.

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.