Millennium Management LLC Increases Stock Position in Interpublic Group of Companies, Inc. (The) $IPG

Millennium Management LLC raised its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 65.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,414,526 shares of the business services provider's stock after purchasing an additional 951,406 shares during the period. Millennium Management LLC owned 0.65% of Interpublic Group of Companies worth $65,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IPG. Baird Financial Group Inc. increased its stake in Interpublic Group of Companies by 11.4% in the fourth quarter. Baird Financial Group Inc. now owns 82,564 shares of the business services provider's stock valued at $2,313,000 after purchasing an additional 8,434 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Interpublic Group of Companies by 52.5% during the fourth quarter. Cetera Investment Advisers now owns 106,853 shares of the business services provider's stock worth $2,994,000 after acquiring an additional 36,803 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Interpublic Group of Companies during the fourth quarter worth about $422,000. Deutsche Bank AG increased its position in shares of Interpublic Group of Companies by 18.9% during the fourth quarter. Deutsche Bank AG now owns 3,765,870 shares of the business services provider's stock worth $105,520,000 after acquiring an additional 597,488 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Interpublic Group of Companies during the fourth quarter worth about $570,000. 98.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IPG. UBS Group decreased their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. reduced their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Finally, Barclays downgraded shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $34.00 to $27.50 in a research report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.01.

Interpublic Group of Companies Stock Performance

IPG traded down $0.31 during midday trading on Friday, reaching $26.40. The company had a trading volume of 3,316,785 shares, compared to its average volume of 5,028,826. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $9.67 billion, a PE ratio of 22.37 and a beta of 1.09. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The business has a 50-day moving average price of $25.73 and a two-hundred day moving average price of $25.21.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The company's quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. On average, sell-side analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, September 2nd. Interpublic Group of Companies's payout ratio is presently 111.86%.

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.