Gabelli Funds LLC Has $12.23 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Gabelli Funds LLC lessened its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 317,000 shares of the business services provider’s stock after selling 16,500 shares during the period. Gabelli Funds LLC owned about 0.08% of Interpublic Group of Companies worth $12,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of IPG. Moneta Group Investment Advisors LLC acquired a new stake in Interpublic Group of Companies during the 4th quarter worth about $256,699,000. First Trust Advisors LP raised its holdings in Interpublic Group of Companies by 1,196.9% during the 1st quarter. First Trust Advisors LP now owns 6,280,702 shares of the business services provider’s stock worth $222,651,000 after buying an additional 5,796,432 shares during the period. Boston Partners raised its holdings in Interpublic Group of Companies by 260.2% during the 1st quarter. Boston Partners now owns 7,356,015 shares of the business services provider’s stock worth $273,915,000 after buying an additional 5,313,700 shares during the period. Envestnet Asset Management Inc. grew its stake in Interpublic Group of Companies by 404.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,875,620 shares of the business services provider’s stock valued at $65,643,000 after acquiring an additional 3,107,131 shares in the last quarter. Finally, Barclays PLC grew its stake in Interpublic Group of Companies by 462.8% during the 2nd quarter. Barclays PLC now owns 1,939,546 shares of the business services provider’s stock valued at $74,829,000 after acquiring an additional 1,594,945 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on IPG. JPMorgan Chase & Co. lowered their target price on Interpublic Group of Companies from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Friday, October 6th. Macquarie lowered their target price on Interpublic Group of Companies from $36.00 to $30.00 in a research note on Tuesday, October 10th. Morgan Stanley lowered their target price on Interpublic Group of Companies from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Citigroup lowered their price target on Interpublic Group of Companies from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, October 23rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.89.

Interpublic Group of Companies Stock Up 0.6 %

IPG opened at $30.51 on Tuesday. The business has a 50 day moving average price of $29.16 and a 200 day moving average price of $33.69. The Interpublic Group of Companies, Inc. has a twelve month low of $27.20 and a twelve month high of $40.95. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $11.69 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 1.96 and a beta of 1.17.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Friday, October 20th. The business services provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.03). Interpublic Group of Companies had a return on equity of 29.72% and a net margin of 8.59%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.97 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.06%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 51.67%.

About Interpublic Group of Companies

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.