ING Groep NV Buys New Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG)

ING Groep NV acquired a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 50,232 shares of the business services provider's stock, valued at approximately $1,589,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Benjamin Edwards Inc. raised its position 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 purchasing an additional 375 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Interpublic Group of Companies during the third quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. boosted 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 valued at $30,000 after acquiring an additional 900 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies during the second quarter valued at about $32,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $32,000. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Price Performance

Shares of IPG stock traded up $0.43 during mid-day trading on Monday, reaching $27.52. The stock had a trading volume of 6,701,983 shares, compared to its average volume of 3,958,714. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17. The company has a market cap of $10.25 billion, a P/E ratio of 12.78 and a beta of 1.10. The business has a 50-day simple moving average of $30.62 and a 200 day simple moving average of $30.59. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The company's revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. On average, sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.80%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies's dividend payout ratio is currently 62.26%.

Analyst Upgrades and Downgrades

A number of analysts have commented on IPG shares. JPMorgan Chase & Co. cut Interpublic Group of Companies from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Morgan Stanley cut shares of Interpublic Group of Companies from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. UBS Group cut shares of 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 research note on Thursday, September 12th. BNP Paribas lowered shares of Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a report on Monday, September 30th. Finally, Macquarie reiterated a "neutral" rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given 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.

Interpublic Group of Companies 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.