The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 18.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 706,774 shares of the business services provider’s stock after purchasing an additional 108,267 shares during the quarter. Victory Capital Management Inc.’s holdings in Interpublic Group of Companies were worth $22,355,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IPG. Benjamin Edwards Inc. grew its position in shares of Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 375 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $26,000. Hazlett Burt & Watson Inc. grew its position 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 acquired a new stake in shares of Interpublic Group of Companies during the 2nd quarter valued at about $32,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $32,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $27.53 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average price of $30.62 and a 200 day moving average price of $30.59. The company has a market cap of $10.25 billion, a P/E ratio of 12.98 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 12 month low of $26.88 and a 12 month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the company earned $0.70 earnings per share. Interpublic Group of Companies’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.80%. Interpublic Group of Companies’s payout ratio is 62.26%.

Analysts Set New Price Targets

IPG has been the topic of a number of analyst reports. Wells Fargo & Company restated an “underweight” rating and set a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. StockNews.com raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Finally, Macquarie reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Company 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.