Los Angeles Capital Management LLC Has $1.11 Million Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Los Angeles Capital Management LLC grew its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 298.4% during the 3rd quarter, Holdings Channel reports. The firm owned 35,194 shares of the business services provider’s stock after purchasing an additional 26,360 shares during the period. Los Angeles Capital Management LLC’s holdings in Interpublic Group of Companies were worth $1,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IPG. Legacy Capital Wealth Partners LLC bought a new position in Interpublic Group of Companies in the third quarter valued at approximately $207,000. Covestor Ltd boosted its position in shares of Interpublic Group of Companies by 10.2% in the 3rd quarter. Covestor Ltd now owns 7,700 shares of the business services provider’s stock worth $244,000 after purchasing an additional 711 shares during the last quarter. Kerusso Capital Management LLC grew its stake in shares of Interpublic Group of Companies by 6.4% during the third quarter. Kerusso Capital Management LLC now owns 42,791 shares of the business services provider’s stock worth $1,353,000 after purchasing an additional 2,582 shares during the period. Assetmark Inc. increased its holdings in Interpublic Group of Companies by 48.8% in the third quarter. Assetmark Inc. now owns 41,258 shares of the business services provider’s stock valued at $1,305,000 after purchasing an additional 13,537 shares during the last quarter. Finally, Philip James Wealth Mangement LLC acquired a new position in Interpublic Group of Companies in the third quarter valued at about $634,000. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Stock Performance

IPG opened at $29.20 on Friday. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 13.77 and a beta of 1.10. The business’s 50-day moving average price is $30.74 and its two-hundred day moving average price is $30.63. The Interpublic Group of Companies, Inc. has a 1 year low of $28.00 and a 1 year high of $35.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the firm earned $0.70 EPS. Interpublic Group of Companies’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.52%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 62.26%.

Analyst Upgrades and Downgrades

IPG has been the subject of a number of recent analyst reports. Macquarie reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Bank of America dropped their price objective on 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. Finally, StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and a consensus 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.