Bridgewater Associates LP Acquires 94,821 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Bridgewater Associates LP grew its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 956.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,734 shares of the business services provider’s stock after acquiring an additional 94,821 shares during the quarter. Bridgewater Associates LP’s holdings in Interpublic Group of Companies were worth $3,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hardy Reed LLC bought a new stake in Interpublic Group of Companies in the 3rd quarter valued at $203,000. Townsquare Capital LLC bought a new stake in shares of Interpublic Group of Companies in the third quarter valued at about $215,000. Cadence Bank bought a new stake in shares of Interpublic Group of Companies in the third quarter valued at about $648,000. Transamerica Financial Advisors Inc. grew its position in Interpublic Group of Companies by 243,700.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,438 shares of the business services provider’s stock worth $78,000 after buying an additional 2,437 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in Interpublic Group of Companies during the third quarter valued at about $60,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $30.81 on Friday. The Interpublic Group of Companies, Inc. has a 1-year low of $26.88 and a 1-year high of $35.17. The firm’s 50-day moving average price is $30.31 and its two-hundred day moving average price is $30.49. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $11.48 billion, a price-to-earnings ratio of 14.53 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.70 EPS. On average, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.28%. Interpublic Group of Companies’s dividend payout ratio is 62.26%.

Analyst Upgrades and Downgrades

IPG has been the subject of a number of research reports. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Barclays decreased their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Bank of America reduced 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 report on Thursday, September 5th. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.57.

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.