Holocene Advisors LP Grows Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Holocene Advisors LP grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 127.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298,002 shares of the business services provider’s stock after acquiring an additional 166,839 shares during the quarter. Holocene Advisors LP owned about 0.08% of Interpublic Group of Companies worth $9,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rosenberg Matthew Hamilton increased its holdings in shares of Interpublic Group of Companies by 9.7% in the third quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 365 shares during the last quarter. Benjamin Edwards Inc. increased its stake in 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 worth $26,000 after acquiring an additional 375 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Interpublic Group of Companies by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock worth $494,000 after acquiring an additional 382 shares during the last quarter. Ballentine Partners LLC increased its stake in Interpublic Group of Companies by 2.9% during the third quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock worth $445,000 after acquiring an additional 399 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock worth $38,000 after buying an additional 405 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

IPG has been the subject of several research analyst reports. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Macquarie reiterated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, Bank of America decreased their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Stock Down 0.7 %

IPG opened at $29.90 on Wednesday. The business’s 50-day simple moving average is $30.26 and its 200-day simple moving average is $30.46. 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 Interpublic Group of Companies, Inc. has a one year low of $26.88 and a one year high of $35.17. The stock has a market capitalization of $11.14 billion, a P/E ratio of 14.10 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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 announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.41%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 62.26%.

About Interpublic Group of Companies

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.