Geode Capital Management LLC Has $298.11 Million Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Geode Capital Management LLC increased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,449,534 shares of the business services provider’s stock after purchasing an additional 81,265 shares during the period. Geode Capital Management LLC owned approximately 2.54% of Interpublic Group of Companies worth $298,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. Rosenberg Matthew Hamilton grew its holdings in shares of Interpublic Group of Companies by 9.7% during the third quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock valued at $131,000 after buying an additional 365 shares during the last quarter. Benjamin Edwards Inc. raised 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 during the last quarter. Farther Finance Advisors LLC lifted its position in Interpublic Group of Companies by 2.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock valued at $494,000 after acquiring an additional 382 shares in the last quarter. Ballentine Partners LLC lifted its position in Interpublic Group of Companies by 2.9% in the 3rd quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock valued at $445,000 after acquiring an additional 399 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 405 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

IPG opened at $29.89 on Friday. The Interpublic Group of Companies, Inc. has a fifty-two week low of $26.88 and a fifty-two week high of $35.17. The firm has a 50-day moving average of $30.05 and a 200 day moving average of $30.37. 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 firm has a market cap of $11.13 billion, a P/E ratio of 14.10 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share 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 the consensus estimate of $2.30 billion. During the same period in the prior year, the firm earned $0.70 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. 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 company also recently announced 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. This represents a $1.32 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Wall Street Analyst Weigh In

IPG has been the topic of several analyst reports. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Bank of America cut their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company upgraded shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Macquarie restated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus target price of $31.71.

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.