Probity Advisors Inc. Acquires 11,231 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

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Probity Advisors Inc. increased its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 88.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,859 shares of the business services provider’s stock after purchasing an additional 11,231 shares during the period. Probity Advisors Inc.’s holdings in The Interpublic Group of Companies were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Morgan Stanley grew its holdings in shares of The Interpublic Group of Companies by 12.0% in the first quarter. Morgan Stanley now owns 889,452 shares of the business services provider’s stock worth $14,401,000 after purchasing an additional 95,507 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of The Interpublic Group of Companies in the 2nd quarter valued at approximately $2,573,000. Robeco Institutional Asset Management B.V. increased its holdings in The Interpublic Group of Companies by 109.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 962,010 shares of the business services provider’s stock worth $16,510,000 after buying an additional 503,022 shares during the period. Foster & Motley Inc. acquired a new position in The Interpublic Group of Companies in the 2nd quarter worth approximately $324,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in The Interpublic Group of Companies by 195.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 106,788 shares of the business services provider’s stock worth $1,832,000 after buying an additional 70,600 shares during the period. Institutional investors and hedge funds own 98.58% of the company’s stock.

Shares of NYSE IPG traded down $0.16 during trading on Tuesday, hitting $21.48. 85,337 shares of the company traded hands, compared to its average volume of 4,686,009. The firm has a market capitalization of $8.44 billion, a P/E ratio of 15.03, a P/E/G ratio of 8.41 and a beta of 0.87. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $18.62 and a 200-day moving average price of $17.81. The Interpublic Group of Companies, Inc. has a 1 year low of $11.63 and a 1 year high of $25.20.

The Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Wednesday, October 21st. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.20. The Interpublic Group of Companies had a return on equity of 25.71% and a net margin of 6.03%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. Research analysts predict that The Interpublic Group of Companies, Inc. will post 1.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a $0.255 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.02 annualized dividend and a dividend yield of 4.75%. The Interpublic Group of Companies’s payout ratio is 52.85%.

A number of equities research analysts have recently commented on the stock. Moffett Nathanson raised shares of The Interpublic Group of Companies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $24.00 in a research note on Thursday, October 22nd. Smith Barney Citigroup lifted their price target on The Interpublic Group of Companies from $22.00 to $24.00 in a report on Tuesday, October 27th. Morgan Stanley raised their price objective on The Interpublic Group of Companies from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 22nd. JPMorgan Chase & Co. raised their price objective on The Interpublic Group of Companies from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 2nd. Finally, Wolfe Research raised The Interpublic Group of Companies from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $20.00 to $23.00 in a research report on Friday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $21.86.

In related news, CEO Michael Isor Roth sold 375,466 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $21.32, for a total value of $8,004,935.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.09% of the stock is currently owned by company insiders.

About The Interpublic Group of Companies

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates through two segments, Integrated Agency Networks and Constituency Management Group. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data management services.

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Institutional Ownership by Quarter for The Interpublic Group of Companies (NYSE:IPG)

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