The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,277,771 shares of the business services provider's stock after purchasing an additional 157,695 shares during the period. Principal Financial Group Inc. owned 0.61% of Interpublic Group of Companies worth $72,041,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IPG. AMG National Trust Bank lifted its stake in Interpublic Group of Companies by 7.4% in the 2nd quarter. AMG National Trust Bank now owns 44,359 shares of the business services provider's stock worth $1,290,000 after purchasing an additional 3,054 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Interpublic Group of Companies by 24.0% in the 2nd quarter. Raymond James Trust N.A. now owns 35,305 shares of the business services provider's stock valued at $1,027,000 after buying an additional 6,827 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Interpublic Group of Companies by 14.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 25,188 shares of the business services provider's stock worth $733,000 after buying an additional 3,127 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in Interpublic Group of Companies by 7.5% in the second quarter. Checchi Capital Advisers LLC now owns 8,116 shares of the business services provider's stock valued at $236,000 after acquiring an additional 565 shares during the last quarter. Finally, Trajan Wealth LLC grew its position in Interpublic Group of Companies by 2.3% in the second quarter. Trajan Wealth LLC now owns 141,420 shares of the business services provider's stock worth $4,114,000 after acquiring an additional 3,181 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IPG has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Thursday. They issued a "hold" rating on the stock. Barclays reduced their price objective on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company raised shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Macquarie reissued a "neutral" rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. cut shares of 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 report on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $31.71.

Interpublic Group of Companies Stock Up 1.5 %

Shares of IPG stock traded up $0.44 during trading on Friday, reaching $29.07. The company's stock had a trading volume of 20,514,568 shares, compared to its average volume of 4,343,604. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 13.71 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 1-year low of $26.88 and a 1-year high of $35.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The stock's 50-day moving average price is $29.86 and its 200 day moving average price is $30.30.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted 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. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.54%. Interpublic Group of Companies's dividend payout ratio (DPR) is 62.26%.

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.