Canada Pension Plan Investment Board Purchases 899,332 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Canada Pension Plan Investment Board lifted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 19.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,436,803 shares of the business services provider’s stock after purchasing an additional 899,332 shares during the period. Canada Pension Plan Investment Board owned 1.44% of Interpublic Group of Companies worth $158,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in IPG. Bank of New York Mellon Corp grew its position in shares of Interpublic Group of Companies by 12.1% during the 1st quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock worth $459,975,000 after purchasing an additional 1,516,975 shares in the last quarter. First Trust Advisors LP raised its position in shares of Interpublic Group of Companies by 12.7% during the fourth quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock worth $225,954,000 after acquiring an additional 777,456 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after buying an additional 828,150 shares during the period. American Century Companies Inc. raised its stake in Interpublic Group of Companies by 4.8% during the second quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock worth $163,049,000 after buying an additional 255,250 shares during the last quarter. Finally, Ariel Investments LLC lifted its holdings in Interpublic Group of Companies by 2.9% in the first quarter. Ariel Investments LLC now owns 5,516,550 shares of the business services provider’s stock valued at $180,005,000 after buying an additional 154,355 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Price Performance

IPG opened at $31.11 on Friday. The firm’s fifty day moving average price is $31.02 and its two-hundred day moving average price is $30.96. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 5.17 and a beta of 1.10. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06. 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, topping analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the firm posted $0.74 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 dividend yield of 4.24%. Interpublic Group of Companies’s payout ratio is currently 46.98%.

Wall Street Analysts Forecast Growth

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

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.