Bank of Nova Scotia Sells 20,128 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Bank of Nova Scotia reduced its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPGGet Rating) by 36.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,446 shares of the business services provider’s stock after selling 20,128 shares during the quarter. Bank of Nova Scotia’s holdings in Interpublic Group of Companies were worth $948,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Interpublic Group of Companies in the 2nd quarter worth approximately $26,000. Venture Visionary Partners LLC bought a new position in shares of Interpublic Group of Companies during the second quarter valued at $26,000. Concord Wealth Partners boosted its position in shares of Interpublic Group of Companies by 251.5% during the second quarter. Concord Wealth Partners now owns 942 shares of the business services provider’s stock valued at $26,000 after buying an additional 674 shares during the last quarter. Tcwp LLC bought a new stake in Interpublic Group of Companies in the 1st quarter worth about $32,000. Finally, Steward Partners Investment Advisory LLC raised its position in Interpublic Group of Companies by 252.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,206 shares of the business services provider’s stock worth $43,000 after buying an additional 864 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IPG has been the topic of a number of recent analyst reports. Moffett Nathanson dropped their price target on shares of Interpublic Group of Companies to $39.00 in a report on Friday, July 22nd. Redburn Partners reiterated a “neutral” rating on shares of Interpublic Group of Companies in a research note on Thursday, September 8th. Barclays cut their price objective on Interpublic Group of Companies from €35.00 ($36.08) to €33.00 ($34.02) and set an “equal weight” rating for the company in a report on Friday, September 16th. ING Group assumed coverage on Interpublic Group of Companies in a report on Thursday, September 8th. They issued a “buy” rating on the stock. They noted that the move was a valuation call. Finally, StockNews.com started coverage on Interpublic Group of Companies in a research note on Wednesday, October 12th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and a consensus target price of $35.50.

Interpublic Group of Companies Stock Up 0.9 %

NYSE IPG opened at $33.10 on Friday. The stock’s 50-day moving average price is $28.50 and its 200-day moving average price is $29.14. The company has a market capitalization of $12.86 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 7.86 and a beta of 1.07. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.84. The Interpublic Group of Companies, Inc. has a 52 week low of $25.14 and a 52 week high of $39.98.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.50%. Interpublic Group of Companies’s payout ratio is currently 46.03%.

About Interpublic Group of Companies

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The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.

Further Reading

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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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