The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 6.8% in the 3rd quarter, according to the company in 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 purchasing an additional 4,084 shares during the period. CIBC Asset Management Inc’s holdings in Interpublic Group of Companies were worth $2,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IPG. Benjamin Edwards Inc. lifted its stake 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 buying an additional 375 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Interpublic Group of Companies in the 3rd quarter worth approximately $26,000. Hazlett Burt & Watson Inc. grew its position in 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 worth $30,000 after purchasing an additional 900 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies during the 2nd quarter valued at $32,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Interpublic Group of Companies in the third quarter valued at $32,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Up 0.5 %

NYSE:IPG opened at $27.66 on Wednesday. The company has a market capitalization of $10.30 billion, a P/E ratio of 13.05 and a beta of 1.10. The stock’s 50 day moving average price is $30.55 and its 200 day moving average price is $30.57. 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 Interpublic Group of Companies, Inc. has a 52 week low of $26.88 and a 52 week 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 EPS for the quarter, hitting 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 company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the business posted $0.70 EPS. Interpublic Group of Companies’s quarterly revenue was down 2.9% on a year-over-year basis. On average, research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given 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 dividend payout ratio is currently 62.26%.

Analyst Upgrades and Downgrades

IPG has been the topic of a number of research analyst reports. Wells Fargo & Company reiterated an “underweight” rating and set a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Macquarie reaffirmed a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Bank of America reduced their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Barclays decreased their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.57.

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.