Copley Financial Group Inc. Makes New $485,000 Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Copley Financial Group Inc. purchased a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, according to its most recent filing with the SEC. The firm purchased 15,346 shares of the business services provider’s stock, valued at approximately $485,000.

Several other institutional investors have also modified their holdings of the company. State Street Corp raised its position in Interpublic Group of Companies by 15.1% during the third quarter. State Street Corp now owns 29,844,859 shares of the business services provider’s stock worth $943,993,000 after acquiring an additional 3,920,975 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Interpublic Group of Companies by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after buying an additional 34,965 shares during the last quarter. Andra AP fonden increased its position in Interpublic Group of Companies by 16.2% during the second quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock worth $15,479,000 after buying an additional 74,200 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Interpublic Group of Companies in the second quarter worth $873,000. Finally, Vest Financial LLC lifted its position in shares of Interpublic Group of Companies by 39.3% in the second quarter. Vest Financial LLC now owns 789,466 shares of the business services provider’s stock valued at $22,966,000 after acquiring an additional 222,693 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Down 1.1 %

Shares of NYSE IPG traded down $0.33 during midday trading on Friday, hitting $29.45. The stock had a trading volume of 248,380 shares, compared to its average volume of 4,216,287. 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 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 market capitalization of $10.97 billion, a price-to-earnings ratio of 14.05 and a beta of 1.10. The company has a fifty day moving average price of $30.06 and a 200 day moving average price of $30.38.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. Interpublic Group of Companies’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts predict that The Interpublic Group of Companies, Inc. will post 2.81 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is presently 62.26%.

Analyst Upgrades and Downgrades

IPG has been the subject of a number of recent research reports. Macquarie reiterated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Bank of America lowered their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. BNP Paribas lowered Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Barclays lowered their price target on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and an average price target of $31.71.

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.