Aurora Investment Counsel Cuts Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Aurora Investment Counsel decreased its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 70.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,725 shares of the business services provider’s stock after selling 35,787 shares during the quarter. Aurora Investment Counsel’s holdings in Interpublic Group of Companies were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. grew its holdings in shares of Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after buying an additional 375 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Interpublic Group of Companies during the third quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Interpublic Group of Companies by 652.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after buying an additional 900 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Interpublic Group of Companies in the second quarter worth approximately $32,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Interpublic Group of Companies in the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 2.6 %

Shares of IPG stock opened at $28.38 on Thursday. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 13.39 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a one year low of $26.88 and a one year high of $35.17. The company’s fifty day moving average price is $30.48 and its 200-day moving average price is $30.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

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

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.65%. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IPG. UBS Group cut shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. Bank of America dropped their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company reiterated 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average 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.