Power Corp of Canada purchased a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 77,667 shares of the business services provider's stock, valued at approximately $2,753,000.

A number of other hedge funds have also made changes to their positions in IPG. Bank of New Hampshire boosted its holdings in Interpublic Group of Companies by 1.2% in the first quarter. Bank of New Hampshire now owns 25,149 shares of the business services provider's stock worth $892,000 after purchasing an additional 295 shares during the period. Cerity Partners LLC boosted its holdings in Interpublic Group of Companies by 4.2% in the first quarter. Cerity Partners LLC now owns 7,951 shares of the business services provider's stock worth $281,000 after purchasing an additional 324 shares during the period. Norwood Financial Corp boosted its holdings in Interpublic Group of Companies by 13.2% in the first quarter. Norwood Financial Corp now owns 2,875 shares of the business services provider's stock worth $102,000 after purchasing an additional 335 shares during the period. Blair William & Co. IL boosted its holdings in Interpublic Group of Companies by 1.0% in the fourth quarter. Blair William & Co. IL now owns 37,528 shares of the business services provider's stock worth $1,405,000 after purchasing an additional 357 shares during the period. Finally, Wedbush Securities Inc. lifted its stake in Interpublic Group of Companies by 3.3% in the first quarter. Wedbush Securities Inc. now owns 11,372 shares of the business services provider's stock valued at $403,000 after buying an additional 360 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company's stock.

Analyst Ratings Changes

IPG has been the topic of a number of recent analyst reports. ING Group initiated coverage on shares of Interpublic Group of Companies in a research note on Thursday. They set a "buy" rating on the stock. They noted that the move was a valuation call. JPMorgan Chase & Co. cut their price objective on shares of Interpublic Group of Companies from $45.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, July 8th. Macquarie cut shares of Interpublic Group of Companies from an "outperform" rating to a "neutral" rating in a research note on Thursday, June 23rd. Moffett Nathanson cut their price objective on shares of Interpublic Group of Companies to $39.00 in a research note on Friday, July 22nd. Finally, Morgan Stanley dropped their price target on shares of Interpublic Group of Companies from $40.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday, June 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.56.

Interpublic Group of Companies Trading Up 2.1 %

Interpublic Group of Companies (NYSE:IPG – Get Rating) last released its earnings results on Thursday, July 21st. The business services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. Interpublic Group of Companies had a return on equity of 29.37% and a net margin of 9.16%. The company had revenue of $2.38 billion for the quarter, compared to analysts' expectations of $2.33 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The business's revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.71 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, August 31st. This represents a $1.16 annualized dividend and a yield of 3.98%. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 46.77%.

Insider Buying and Selling at Interpublic Group of Companies

In other news, Director Jocelyn Carter-Miller sold 6,500 shares of Interpublic Group of Companies stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $30.00, for a total transaction of $195,000.00. Following the completion of the sale, the director now directly owns 38,214 shares in the company, valued at approximately $1,146,420. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company's stock.

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.

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