Public Sector Pension Investment Board Purchases 1,600 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Public Sector Pension Investment Board lifted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,071 shares of the business services provider’s stock after purchasing an additional 1,600 shares during the period. Public Sector Pension Investment Board’s holdings in Interpublic Group of Companies were worth $508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IPG. Benjamin Edwards Inc. grew its holdings in 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 purchasing an additional 375 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Interpublic Group of Companies during the 3rd quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. grew its stake in shares of Interpublic Group of Companies by 652.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 900 shares during the period. International Assets Investment Management LLC purchased a new stake in Interpublic Group of Companies in the 2nd quarter worth approximately $32,000. Finally, Ashton Thomas Securities LLC bought a new stake in Interpublic Group of Companies during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IPG shares. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Bank of America dropped their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Macquarie reissued a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, Barclays cut their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies Stock Down 0.7 %

Shares of IPG opened at $29.26 on Monday. The business’s 50 day simple moving average is $30.15 and its 200-day simple moving average is $30.40. The Interpublic Group of Companies, Inc. has a 1 year low of $26.88 and a 1 year high of $35.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 13.80 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business earned $0.70 earnings per share. Interpublic Group of Companies’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal 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 paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.51%. Interpublic Group of Companies’s 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.