Banque Pictet & Cie SA Acquires New Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Banque Pictet & Cie SA acquired a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,461 shares of the business services provider’s stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IPG. Moneta Group Investment Advisors LLC acquired a new position in Interpublic Group of Companies during the 4th quarter worth $256,699,000. First Trust Advisors LP boosted its position in Interpublic Group of Companies by 1,196.9% during the 1st quarter. First Trust Advisors LP now owns 6,280,702 shares of the business services provider’s stock worth $222,651,000 after acquiring an additional 5,796,432 shares during the period. Boston Partners boosted its position in Interpublic Group of Companies by 260.2% during the 1st quarter. Boston Partners now owns 7,356,015 shares of the business services provider’s stock worth $273,915,000 after acquiring an additional 5,313,700 shares during the period. Envestnet Asset Management Inc. boosted its position in Interpublic Group of Companies by 404.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,875,620 shares of the business services provider’s stock worth $65,643,000 after acquiring an additional 3,107,131 shares during the period. Finally, Barclays PLC raised its stake in shares of Interpublic Group of Companies by 462.8% in the 2nd quarter. Barclays PLC now owns 1,939,546 shares of the business services provider’s stock worth $74,829,000 after buying an additional 1,594,945 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 2.3 %

NYSE:IPG opened at $29.76 on Friday. The business’s fifty day moving average price is $29.79 and its 200 day moving average price is $34.22. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.78. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $40.95. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.81 and a beta of 1.17.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Friday, October 20th. The business services provider reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). Interpublic Group of Companies had a net margin of 8.59% and a return on equity of 29.72%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 3.01 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.24 dividend on an annualized basis and a yield of 4.17%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 51.67%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on IPG shares. Bank of America dropped their price objective on Interpublic Group of Companies to $38.00 in a research note on Wednesday, September 20th. JPMorgan Chase & Co. cut their target price on Interpublic Group of Companies from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Friday, October 6th. Wells Fargo & Company cut their target price on Interpublic Group of Companies from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Citigroup cut their target price on Interpublic Group of Companies from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. Finally, Barclays cut their target price on Interpublic Group of Companies from $38.26 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.89.

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.