FORA Capital LLC Makes New Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

FORA Capital LLC purchased a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, according to its most recent filing with the SEC. The fund purchased 61,175 shares of the business services provider’s stock, valued at approximately $1,935,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Boston Trust Walden Corp increased its stake in Interpublic Group of Companies by 3.0% during the second quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after purchasing an additional 34,965 shares during the last quarter. Tidal Investments LLC raised its stake in Interpublic Group of Companies by 68.0% during the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock worth $3,949,000 after acquiring an additional 48,996 shares during the period. SG Americas Securities LLC lifted its holdings in Interpublic Group of Companies by 176.5% in the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock worth $7,403,000 after acquiring an additional 162,468 shares during the last quarter. Andra AP fonden boosted its stake in Interpublic Group of Companies by 16.2% in the second quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock valued at $15,479,000 after acquiring an additional 74,200 shares during the period. Finally, M&G Plc acquired a new position in Interpublic Group of Companies in the second quarter valued at approximately $605,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

NYSE:IPG opened at $30.47 on Thursday. 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 business’s 50-day moving average price is $30.34 and its 200 day moving average price is $30.50. The Interpublic Group of Companies, Inc. has a 52-week low of $26.88 and a 52-week high of $35.17. The firm has a market cap of $11.35 billion, a P/E ratio of 14.37 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 4.33%. Interpublic Group of Companies’s dividend payout ratio (DPR) is 62.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IPG. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Barclays reduced their price objective on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, Bank of America lowered their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.