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

Empirical Finance LLC lifted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 1.3% in the third quarter, HoldingsChannel reports. The firm owned 32,609 shares of the business services provider’s stock after buying an additional 409 shares during the quarter. Empirical Finance LLC’s holdings in Interpublic Group of Companies were worth $1,031,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in IPG. Benjamin Edwards Inc. grew its stake in shares of Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after acquiring an additional 375 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Interpublic Group of Companies during the 3rd quarter worth $26,000. Hazlett Burt & Watson Inc. increased its holdings in Interpublic Group of Companies by 652.2% during 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 during the period. International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies in the 2nd quarter valued at about $32,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at about $32,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 7.2 %

IPG opened at $27.09 on Friday. The Interpublic Group of Companies, Inc. has a one year low of $27.01 and a one year high of $35.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $10.09 billion, a P/E ratio of 12.78 and a beta of 1.10. The business’s 50-day simple moving average is $30.62 and its 200-day simple moving average is $30.59.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. Analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current 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 paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays cut their target price 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. Macquarie restated a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Bank of America dropped their target price on 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. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price target for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Finally, Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.