Nomura Asset Management Co. Ltd. Acquires 4,448 Shares of Interpublic Group of Companies Inc (IPG)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 7.9% during the third quarter, HoldingsChannel reports. The firm owned 61,015 shares of the business services provider’s stock after acquiring an additional 4,448 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Interpublic Group of Companies were worth $1,396,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. NuWave Investment Management LLC increased its position in Interpublic Group of Companies by 117.3% during the third quarter. NuWave Investment Management LLC now owns 5,654 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 3,052 shares during the last quarter. LifePlan Financial Group Inc bought a new position in Interpublic Group of Companies during the second quarter valued at $187,000. Lourd Capital LLC bought a new position in Interpublic Group of Companies during the third quarter valued at $203,000. Round Table Services LLC bought a new position in Interpublic Group of Companies during the third quarter valued at $203,000. Finally, Bessemer Group Inc. increased its position in Interpublic Group of Companies by 242.7% during the third quarter. Bessemer Group Inc. now owns 9,647 shares of the business services provider’s stock valued at $222,000 after acquiring an additional 6,832 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors.

NYSE IPG opened at $22.70 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $8.87 billion, a PE ratio of 13.34, a P/E/G ratio of 1.79 and a beta of 1.07. Interpublic Group of Companies Inc has a 12 month low of $18.51 and a 12 month high of $26.01.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Friday, October 19th. The business services provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Interpublic Group of Companies had a net margin of 6.62% and a return on equity of 30.99%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, equities research analysts anticipate that Interpublic Group of Companies Inc will post 1.74 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Friday, November 30th. Interpublic Group of Companies’s payout ratio is presently 59.57%.

A number of research analysts have weighed in on IPG shares. Zacks Investment Research upgraded shares of Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Monday, November 19th. Citigroup boosted their price objective on shares of Interpublic Group of Companies from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, October 19th. Morgan Stanley reiterated an “equal weight” rating and set a $24.00 price objective on shares of Interpublic Group of Companies in a research report on Monday, October 15th. ValuEngine upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, BMO Capital Markets boosted their price objective on shares of Interpublic Group of Companies from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.56.

In other news, Director H John Greeniaus sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $23.50, for a total value of $117,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jocelyn Carter-Miller sold 8,735 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $23.24, for a total transaction of $203,001.40. The disclosure for this sale can be found here. Corporate insiders own 1.49% of the company’s stock.

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Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

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

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