Empirical Finance LLC Raises Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Empirical Finance LLC raised its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 32,609 shares of the business services provider’s stock after purchasing an additional 409 shares during the period. Empirical Finance LLC’s holdings in Interpublic Group of Companies were worth $1,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Interpublic Group of Companies in the third quarter valued at about $26,000. Benjamin Edwards Inc. grew its stake in Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 375 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Interpublic Group of Companies in the 3rd quarter valued at about $32,000. Hazlett Burt & Watson Inc. lifted its stake in Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after purchasing an additional 900 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Interpublic Group of Companies during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 7.2 %

Shares of IPG opened at $27.09 on Friday. The company’s 50-day moving average price is $30.62 and its 200 day moving average price is $30.59. The Interpublic Group of Companies, Inc. has a 12-month low of $27.01 and a 12-month high of $35.17. 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 firm has a market cap of $10.09 billion, a P/E ratio of 12.78 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. The business 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%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. On average, sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.87%. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Analysts Set New Price Targets

IPG has been the subject of several recent research reports. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Wells Fargo & Company restated an “underweight” rating and set a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, Macquarie reaffirmed a “neutral” rating and set a $31.00 target price 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 issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.