RBC Capital Markets initiated coverage on shares of Interpublic Group of Cos. (NYSE:IPG) in a research note released on Thursday morning. The brokerage issued a top pick rating and a $27.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Interpublic Group of Cos. from a sell rating to a hold rating in a research report on Monday, July 25th. Wedbush restated an outperform rating and set a $28.00 price objective on shares of Interpublic Group of Cos. in a research report on Monday, July 18th. Jefferies Group restated a buy rating on shares of Interpublic Group of Cos. in a research report on Monday, August 22nd. BMO Capital Markets restated a buy rating and set a $26.00 price objective on shares of Interpublic Group of Cos. in a research report on Friday, July 22nd. Finally, Credit Suisse Group AG assumed coverage on shares of Interpublic Group of Cos. in a research report on Thursday, September 15th. They set an outperform rating and a $27.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $26.08.

Analyst Recommendations for Interpublic Group of Cos. (NYSE:IPG)

Shares of Interpublic Group of Cos. (NYSE:IPG) traded up 0.68% during mid-day trading on Thursday, reaching $22.36. 3,637,152 shares of the company’s stock were exchanged. The stock has a market cap of $8.96 billion, a PE ratio of 18.57 and a beta of 1.83. The company has a 50 day moving average price of $22.65 and a 200-day moving average price of $23.15. Interpublic Group of Cos. has a one year low of $19.79 and a one year high of $24.82.

Interpublic Group of Cos. (NYSE:IPG) last posted its earnings results on Thursday, July 21st. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. Interpublic Group of Cos. had a net margin of 6.44% and a return on equity of 26.26%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts predict that Interpublic Group of Cos. will post $1.31 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Tuesday, August 30th. Interpublic Group of Cos.’s dividend payout ratio is presently 50.00%.

In other news, SVP Ellen Tobi Johnson sold 35,765 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $22.69, for a total transaction of $811,507.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.75% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of Interpublic Group of Cos. by 40.6% in the second quarter. FMR LLC now owns 31,001,813 shares of the company’s stock worth $716,142,000 after buying an additional 8,956,445 shares in the last quarter. Boston Partners bought a new position in shares of Interpublic Group of Cos. during the second quarter worth approximately $81,087,000. TIAA CREF Investment Management LLC increased its position in shares of Interpublic Group of Cos. by 35.9% in the second quarter. TIAA CREF Investment Management LLC now owns 8,607,314 shares of the company’s stock worth $198,829,000 after buying an additional 2,274,255 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Interpublic Group of Cos. by 86.4% in the first quarter. Renaissance Technologies LLC now owns 3,993,300 shares of the company’s stock worth $91,646,000 after buying an additional 1,851,400 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Interpublic Group of Cos. by 14.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 13,978,325 shares of the company’s stock worth $322,899,000 after buying an additional 1,813,110 shares in the last quarter. 94.54% of the stock is owned by institutional investors and hedge funds.

About Interpublic Group of Cos.

The Interpublic Group of Companies, Inc (IPG) is an advertising and marketing services company. IPG’s companies are engaged in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

5 Day Chart for NYSE:IPG

Receive News & Stock Ratings for Interpublic Group of Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Cos. and related stocks with our FREE daily email newsletter.