Csenge Advisory Group Invests $419,000 in Interpublic Group of Companies Inc (IPG)

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Csenge Advisory Group acquired a new stake in Interpublic Group of Companies Inc (NYSE:IPG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 17,359 shares of the business services provider’s stock, valued at approximately $419,000.

Other institutional investors have also recently made changes to their positions in the company. NuWave Investment Management LLC lifted its holdings in shares of Interpublic Group of Companies by 117.3% in the third quarter. NuWave Investment Management LLC now owns 5,654 shares of the business services provider’s stock valued at $129,000 after buying an additional 3,052 shares during the period. Lourd Capital LLC purchased a new stake in shares of Interpublic Group of Companies during the third quarter valued at $203,000. Round Table Services LLC purchased a new stake in shares of Interpublic Group of Companies during the third quarter valued at $203,000. Bessemer Group Inc. lifted its holdings in shares of 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 purchasing an additional 6,832 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Interpublic Group of Companies by 63.1% during the third quarter. Fifth Third Bancorp now owns 9,779 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 3,784 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Several brokerages have recently commented on IPG. BMO Capital Markets upped their target price on Interpublic Group of Companies from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, October 24th. Zacks Investment Research downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. Citigroup upped their target price on Interpublic Group of Companies from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, October 19th. Macquarie raised Interpublic Group of Companies from a “neutral” rating to an “outperform” rating and upped their target price for the company from $24.00 to $25.00 in a report on Thursday, September 20th. Finally, JPMorgan Chase & Co. began coverage on Interpublic Group of Companies in a report on Thursday, October 11th. They set an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.44.

Shares of NYSE IPG opened at $21.86 on Wednesday. Interpublic Group of Companies Inc has a 12 month low of $19.15 and a 12 month high of $26.01. The firm has a market cap of $8.36 billion, a PE ratio of 12.58, a P/E/G ratio of 1.66 and a beta of 1.07. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.24 and a quick ratio of 1.24.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Friday, October 19th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Interpublic Group of Companies had a return on equity of 30.99% and a net margin of 6.62%. 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 earned $0.31 EPS. On average, research analysts anticipate that Interpublic Group of Companies Inc will post 1.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Monday, December 3rd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.84%. The ex-dividend date was Friday, November 30th. Interpublic Group of Companies’s dividend payout ratio is currently 59.57%.

In related news, Director H John Greeniaus sold 5,000 shares of the stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $23.50, for a total value of $117,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jocelyn Carter-Miller sold 8,735 shares of the stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $23.24, for a total value of $203,001.40. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

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Interpublic Group of Companies 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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Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interpublic Group of Companies Inc (NYSE:IPG).

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

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