The Interpublic Group of Companies, Inc. (NYSE:IPG) Stock Position Raised by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,191 shares of the business services provider’s stock after acquiring an additional 4,084 shares during the period. CIBC Asset Management Inc’s holdings in Interpublic Group of Companies were worth $2,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IPG. Avantax Advisory Services Inc. bought a new stake in shares of Interpublic Group of Companies in the 1st quarter worth approximately $310,000. O Shaughnessy Asset Management LLC lifted its stake in Interpublic Group of Companies by 0.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 146,467 shares of the business services provider’s stock valued at $4,779,000 after buying an additional 584 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Interpublic Group of Companies by 580.0% during the first quarter. UniSuper Management Pty Ltd now owns 32,832 shares of the business services provider’s stock valued at $1,071,000 after acquiring an additional 28,004 shares during the period. Bessemer Group Inc. grew its position in shares of Interpublic Group of Companies by 202.4% during the first quarter. Bessemer Group Inc. now owns 56,389 shares of the business services provider’s stock worth $1,840,000 after acquiring an additional 37,740 shares during the last quarter. Finally, Pitcairn Co. increased its holdings in shares of Interpublic Group of Companies by 75.3% in the 1st quarter. Pitcairn Co. now owns 21,457 shares of the business services provider’s stock worth $700,000 after acquiring an additional 9,216 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IPG has been the subject of a number of analyst reports. Barclays reduced their target price on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. BNP Paribas cut Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Macquarie reiterated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Stock Up 0.5 %

Shares of IPG stock opened at $27.66 on Wednesday. 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 quick ratio of 1.09 and a current ratio of 1.09. The business’s fifty day moving average is $30.55 and its 200-day moving average is $30.57. The stock has a market cap of $10.30 billion, a PE ratio of 13.05 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates 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 revenue was down 2.9% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.77%. Interpublic Group of Companies’s payout ratio is currently 62.26%.

About Interpublic Group of Companies

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.