Short Interest in The Interpublic Group of Companies, Inc. (NYSE:IPG) Rises By 8.0%

The Interpublic Group of Companies, Inc. (NYSE:IPG) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 24,450,000 shares, an increase of 8.0% from the December 15th total of 22,630,000 shares. Based on an average daily volume of 5,540,000 shares, the days-to-cover ratio is presently 4.4 days. Currently, 6.6% of the company’s stock are short sold.

Interpublic Group of Companies Price Performance

IPG traded down $0.06 during trading on Monday, reaching $27.84. 5,109,237 shares of the company traded hands, compared to its average volume of 4,438,917. 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 company has a market cap of $10.37 billion, a P/E ratio of 13.13 and a beta of 1.11. Interpublic Group of Companies has a 12-month low of $26.30 and a 12-month high of $35.17. The firm has a fifty day simple moving average of $28.83 and a 200 day simple moving average of $30.06.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. On average, equities analysts forecast that Interpublic Group of Companies will post 2.81 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.33 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.74%. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

Analysts Set New Price Targets

IPG has been the topic of several analyst reports. Barclays dropped their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price target for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Macquarie reiterated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. StockNews.com began coverage on shares of Interpublic Group of Companies in a report on Monday. They set a “hold” rating for the company. Finally, BNP Paribas raised shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in shares of Interpublic Group of Companies by 190.7% during the second quarter. Acadian Asset Management LLC now owns 6,921 shares of the business services provider’s stock valued at $200,000 after buying an additional 4,540 shares during the period. Federated Hermes Inc. grew its holdings in Interpublic Group of Companies by 6.5% during the 2nd quarter. Federated Hermes Inc. now owns 68,974 shares of the business services provider’s stock worth $2,006,000 after acquiring an additional 4,233 shares in the last quarter. Amalgamated Bank increased its position in Interpublic Group of Companies by 47.8% during the 2nd quarter. Amalgamated Bank now owns 117,726 shares of the business services provider’s stock valued at $3,425,000 after purchasing an additional 38,079 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Interpublic Group of Companies by 21.0% in the 2nd quarter. Hsbc Holdings PLC now owns 1,039,627 shares of the business services provider’s stock valued at $30,237,000 after purchasing an additional 180,757 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Interpublic Group of Companies by 17.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 135,277 shares of the business services provider’s stock worth $3,935,000 after purchasing an additional 19,759 shares during the period. 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.