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

Principal Financial Group Inc. increased its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,277,771 shares of the business services provider’s stock after buying 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 reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPG. Catalyst Capital Advisors LLC bought a new stake in Interpublic Group of Companies during the third quarter valued at about $26,000. Benjamin Edwards Inc. lifted its position in shares of Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Interpublic Group of Companies during the 3rd quarter valued at approximately $32,000. Hazlett Burt & Watson Inc. boosted its stake 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 purchasing an additional 900 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies in the 2nd quarter valued at approximately $32,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on IPG. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Bank of America cut their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Barclays decreased their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com started coverage on Interpublic Group of Companies in a research report on Thursday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and an average target price of $31.71.

Interpublic Group of Companies Stock Up 1.5 %

Shares of IPG opened at $29.07 on Friday. The Interpublic Group of Companies, Inc. has a 12 month low of $26.88 and a 12 month high of $35.17. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 13.71 and a beta of 1.10. The company has a 50-day moving average price of $29.86 and a two-hundred day moving average price of $30.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

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

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Monday, December 2nd. Interpublic Group of Companies’s payout ratio 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.