The Interpublic Group of Companies, Inc. (NYSE:IPG) Position Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 134.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 77,237 shares of the business services provider’s stock after purchasing an additional 44,225 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Interpublic Group of Companies were worth $2,443,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Interpublic Group of Companies by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after buying an additional 828,150 shares during the last quarter. Ariel Investments LLC increased its holdings in shares of Interpublic Group of Companies by 3.5% in the 2nd quarter. Ariel Investments LLC now owns 5,710,448 shares of the business services provider’s stock valued at $166,117,000 after acquiring an additional 193,898 shares during the last quarter. American Century Companies Inc. raised its position in shares of Interpublic Group of Companies by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 5,604,984 shares of the business services provider’s stock valued at $163,049,000 after acquiring an additional 255,250 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Interpublic Group of Companies by 19.8% during the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after purchasing an additional 899,332 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Interpublic Group of Companies by 2.0% in the second quarter. Principal Financial Group Inc. now owns 2,120,076 shares of the business services provider’s stock worth $61,672,000 after purchasing an additional 41,939 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IPG shares. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Barclays cut their target price on shares of Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Macquarie lowered their target price on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.44.

Interpublic Group of Companies Trading Down 1.3 %

Shares of IPG stock opened at $31.60 on Tuesday. The Interpublic Group of Companies, Inc. has a 1 year low of $27.53 and a 1 year high of $35.17. The firm has a market capitalization of $11.93 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 5.18 and a beta of 1.09. The stock has a fifty day moving average of $31.41 and a two-hundred day moving average of $30.76. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share. As a group, research analysts expect that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 dividend on an annualized basis and a dividend yield of 4.18%. Interpublic Group of Companies’s dividend payout ratio is presently 46.98%.

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.