Franklin Resources Inc. Raises Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Franklin Resources Inc. boosted its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 295,937 shares of the business services provider’s stock after purchasing an additional 4,848 shares during the quarter. Franklin Resources Inc. owned approximately 0.08% of Interpublic Group of Companies worth $9,322,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Benjamin Edwards Inc. increased its stake in shares of Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after buying an additional 375 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Interpublic Group of Companies during the 3rd quarter worth $26,000. Hazlett Burt & Watson Inc. increased its position in shares of 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 acquired a new stake in shares of Interpublic Group of Companies in the 2nd quarter valued at about $32,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Interpublic Group of Companies during the third quarter worth about $32,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Performance

Shares of IPG opened at $29.07 on Friday. The firm has a fifty day moving average of $29.86 and a 200-day moving average of $30.30. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 13.71 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. The Interpublic Group of Companies, Inc. has a 1 year low of $26.88 and a 1 year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business posted $0.70 EPS. Interpublic Group of Companies’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.81 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.54%. The ex-dividend date was Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IPG shares. StockNews.com began coverage on Interpublic Group of Companies in a report on Thursday. They issued a “hold” rating for the company. Bank of America lowered their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Barclays reduced their price objective on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. Finally, UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.71.

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.