Interpublic Group of Companies (NYSE:IPG) Downgraded by Argus to “Hold”

Argus cut shares of Interpublic Group of Companies (NYSE:IPG) from a buy rating to a hold rating in a report published on Tuesday, MarketBeat Ratings reports.

IPG has been the topic of a number of other research reports. Macquarie reiterated 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. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Friday, January 10th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a report on Thursday, February 13th. They set a “hold” rating for the company. UBS Group upgraded Interpublic Group of Companies from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $39.00 in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies presently has an average rating of “Hold” and an average price target of $33.50.

Interpublic Group of Companies Trading Up 1.9 %

Shares of IPG opened at $27.56 on Tuesday. The firm’s 50-day moving average price is $28.24 and its 200-day moving average price is $29.79. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 13.00 and a beta of 1.11. Interpublic Group of Companies has a 1-year low of $26.30 and a 1-year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. Sell-side analysts anticipate that Interpublic Group of Companies will post 2.8 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.32 annualized dividend and a yield of 4.79%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 72.13%.

Interpublic Group of Companies announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in shares. This repurchase authorization authorizes the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Interpublic Group of Companies

Several large investors have recently modified their holdings of IPG. AMF Tjanstepension AB lifted its stake in shares of Interpublic Group of Companies by 70.3% during the 3rd quarter. AMF Tjanstepension AB now owns 253,172 shares of the business services provider’s stock worth $8,008,000 after acquiring an additional 104,514 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Interpublic Group of Companies by 134.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 77,237 shares of the business services provider’s stock valued at $2,443,000 after purchasing an additional 44,225 shares in the last quarter. Capital Investment Advisors LLC purchased a new position in shares of Interpublic Group of Companies in the 3rd quarter worth approximately $224,000. Raymond James & Associates grew its holdings in Interpublic Group of Companies by 2.0% in the third quarter. Raymond James & Associates now owns 1,620,392 shares of the business services provider’s stock worth $51,253,000 after purchasing an additional 32,053 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new position in Interpublic Group of Companies during the 3rd quarter worth $218,000. Institutional investors own 98.43% of the company’s stock.

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.