Principal Financial Group Inc. Has $72.04 Million Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Principal Financial Group Inc. lifted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 7.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,277,771 shares of the business services provider's stock after buying an additional 157,695 shares during the quarter. Principal Financial Group Inc. owned about 0.60% of Interpublic Group of Companies worth $72,041,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new position in shares of Interpublic Group of Companies in the third quarter worth about $26,000. Benjamin Edwards Inc. increased its holdings in shares of Interpublic Group of Companies by 73.8% in 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 in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings 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 buying an additional 900 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Interpublic Group of Companies during the 2nd quarter worth $32,000. Finally, EverSource Wealth Advisors LLC boosted its position in Interpublic Group of Companies by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider's stock valued at $38,000 after buying an additional 405 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Trading Down 0.8 %

NYSE IPG traded down $0.24 during trading on Friday, reaching $29.83. 3,709,165 shares of the stock traded hands, compared to its average volume of 4,046,329. The Interpublic Group of Companies, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $35.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 5.08 and a beta of 1.10. The stock's 50-day moving average price is $30.90 and its 200 day moving average price is $30.67.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting analysts' consensus estimates of $0.70. The business had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.43%. 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 research firms have recently weighed in on IPG. Wells Fargo & Company restated an "underweight" rating and set a $26.00 target price (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Bank of America dropped their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, September 5th. StockNews.com raised shares of Interpublic Group of Companies from a "sell" rating to a "hold" rating in a research note on Saturday. Barclays dropped 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 research note on Wednesday, October 23rd. Finally, BNP Paribas lowered shares of Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a report on Monday, September 30th. Four research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.