50,232 Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG) Bought by ING Groep NV

ING Groep NV acquired a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 50,232 shares of the business services provider’s stock, valued at approximately $1,589,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp grew its stake in Interpublic Group of Companies by 3.0% in the second quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after acquiring an additional 34,965 shares during the period. Tidal Investments LLC increased its stake in shares of Interpublic Group of Companies by 68.0% during the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock worth $3,949,000 after purchasing an additional 48,996 shares during the period. SG Americas Securities LLC increased its stake in shares of Interpublic Group of Companies by 176.5% during the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock worth $7,403,000 after purchasing an additional 162,468 shares during the period. Andra AP fonden increased its stake in shares of Interpublic Group of Companies by 16.2% during the second quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock worth $15,479,000 after purchasing an additional 74,200 shares during the period. Finally, M&G Plc bought a new position in Interpublic Group of Companies during the 2nd quarter worth $605,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IPG has been the topic of a number of recent research reports. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Morgan Stanley downgraded Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $34.00 to $28.00 in a report on Monday, July 22nd. Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Bank of America cut their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Interpublic Group of Companies presently has an average rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $27.09 on Monday. The Interpublic Group of Companies, Inc. has a one year low of $27.01 and a one year high of $35.17. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 12.78 and a beta of 1.10. The business has a 50-day simple moving average of $30.62 and a 200 day simple moving average of $30.59. 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 issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The firm 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 company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. On average, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

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 issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

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.