Van ECK Associates Corp Purchases 2,408 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Van ECK Associates Corp raised its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,553 shares of the business services provider’s stock after acquiring an additional 2,408 shares during the period. Van ECK Associates Corp’s holdings in Interpublic Group of Companies were worth $1,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of IPG. Harel Insurance Investments & Financial Services Ltd. bought a new position in Interpublic Group of Companies during the second quarter valued at $26,000. Venture Visionary Partners LLC bought a new position in shares of Interpublic Group of Companies in the second quarter worth about $26,000. Concord Wealth Partners grew its holdings in shares of Interpublic Group of Companies by 251.5% in the second quarter. Concord Wealth Partners now owns 942 shares of the business services provider’s stock worth $26,000 after purchasing an additional 674 shares during the last quarter. Private Trust Co. NA bought a new position in shares of Interpublic Group of Companies in the second quarter worth about $36,000. Finally, Ronald Blue Trust Inc. bought a new position in shares of Interpublic Group of Companies in the second quarter worth about $41,000. Institutional investors own 96.75% of the company’s stock.

Interpublic Group of Companies Stock Up 0.1 %

NYSE:IPG opened at $35.96 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $13.97 billion, a P/E ratio of 14.27, a P/E/G ratio of 3.60 and a beta of 1.08. The company’s 50-day simple moving average is $33.34 and its 200-day simple moving average is $30.08. The Interpublic Group of Companies, Inc. has a fifty-two week low of $25.14 and a fifty-two week high of $39.98.

Interpublic Group of Companies (NYSE:IPGGet Rating) last announced its earnings results on Friday, October 21st. The business services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Interpublic Group of Companies had a net margin of 9.18% and a return on equity of 28.78%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.29 billion. On average, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.74 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, November 30th. Interpublic Group of Companies’s dividend payout ratio is currently 46.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Interpublic Group of Companies from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, December 19th. Bank of America upgraded shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $22.00 to $36.00 in a report on Thursday, January 5th. Finally, StockNews.com assumed coverage on shares of Interpublic Group of Companies in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Interpublic Group of Companies Profile

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The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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