Public Sector Pension Investment Board Buys 5,724 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Public Sector Pension Investment Board grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 65.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,471 shares of the business services provider’s stock after purchasing an additional 5,724 shares during the quarter. Public Sector Pension Investment Board’s holdings in Interpublic Group of Companies were worth $421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IPG. Benjamin Edwards Inc. raised its holdings in Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after acquiring an additional 375 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Interpublic Group of Companies by 652.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after purchasing an additional 900 shares during the period. Voisard Asset Management Group Inc. bought a new position in shares of Interpublic Group of Companies in the fourth quarter worth about $31,000. International Assets Investment Management LLC acquired a new position in shares of Interpublic Group of Companies during the 2nd quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 405 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Trading Down 0.8 %

Shares of IPG opened at $30.81 on Friday. The stock has a 50 day simple moving average of $31.25 and a 200-day simple moving average of $30.88. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The stock has a market cap of $11.63 billion, a PE ratio of 10.96, a PEG ratio of 5.23 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 1 year low of $27.20 and a 1 year high of $35.17.

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

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.28%. Interpublic Group of Companies’s dividend payout ratio is 46.98%.

Analyst Ratings Changes

A number of research analysts have recently commented on IPG shares. Bank of America cut their price target on 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. Barclays reduced their price target on shares of Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating for the company in a report on Wednesday. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday. Finally, Macquarie decreased their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.44.

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.