Short Interest in The Interpublic Group of Companies, Inc. (NYSE:IPG) Increases By 15.8%

The Interpublic Group of Companies, Inc. (NYSE:IPG) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 29,100,000 shares, a growth of 15.8% from the November 15th total of 25,120,000 shares. Based on an average daily trading volume, of 5,030,000 shares, the short-interest ratio is presently 5.8 days. Approximately 7.8% of the shares of the stock are short sold.

Interpublic Group of Companies Trading Up 0.1 %

IPG traded up $0.03 during trading on Monday, hitting $29.92. 7,364,119 shares of the stock traded hands, compared to its average volume of 4,247,313. The firm has a 50-day moving average of $30.03 and a 200 day moving average of $30.36. Interpublic Group of Companies has a 12-month low of $26.88 and a 12-month high of $35.17. The firm has a market capitalization of $11.15 billion, a P/E ratio of 14.11 and a beta of 1.10. 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 released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business posted $0.70 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Interpublic Group of Companies will post 2.81 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 62.26%.

Institutional Investors Weigh In On Interpublic Group of Companies

Several institutional investors and hedge funds have recently modified their holdings of IPG. Benjamin Edwards Inc. increased its position in shares of Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after buying an additional 375 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its position in shares of Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after acquiring an additional 900 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Interpublic Group of Companies during the second quarter valued at approximately $32,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Interpublic Group of Companies in the third quarter worth $32,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Bank of America dropped their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Macquarie reiterated a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Finally, Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Interpublic Group of Companies currently has an average rating of “Hold” and an average price target of $31.71.

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.