Toronto Dominion Bank Increases Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Toronto Dominion Bank grew its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 30.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,672 shares of the business services provider’s stock after purchasing an additional 55,972 shares during the period. Toronto Dominion Bank owned about 0.06% of Interpublic Group of Companies worth $6,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IPG. Norges Bank purchased a new stake in Interpublic Group of Companies during the fourth quarter worth $32,620,000. Assetmark Inc. raised its position in shares of Interpublic Group of Companies by 27.5% in the fourth quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock worth $56,000 after acquiring an additional 368 shares during the period. Stifel Financial Corp boosted its stake in shares of Interpublic Group of Companies by 25.6% during the 4th quarter. Stifel Financial Corp now owns 339,770 shares of the business services provider’s stock worth $11,090,000 after acquiring an additional 69,289 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at about $383,000. Finally, J. W. Coons Advisors LLC increased its stake in shares of Interpublic Group of Companies by 5.6% in the 4th quarter. J. W. Coons Advisors LLC now owns 11,731 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 623 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IPG shares. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Bank of America decreased their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Macquarie cut their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. JPMorgan Chase & Co. decreased their price objective on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.00.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $31.62 on Friday. The company has a fifty day simple moving average of $31.14 and a 200-day simple moving average of $30.92. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 5.23 and a beta of 1.10. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. Interpublic Group of Companies’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 EPS. On average, equities analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.17%. Interpublic Group of Companies’s dividend payout ratio is presently 46.98%.

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.