1,911 Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG) Acquired by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,911 shares of the business services provider’s stock, valued at approximately $60,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Trust Walden Corp boosted its position in Interpublic Group of Companies by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock valued at $34,532,000 after buying an additional 34,965 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Interpublic Group of Companies by 176.5% in the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock valued at $7,403,000 after purchasing an additional 162,468 shares during the period. Andra AP fonden increased its stake in shares of Interpublic Group of Companies by 16.2% in the second quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock valued at $15,479,000 after purchasing an additional 74,200 shares during the period. M&G Plc acquired a new position in shares of Interpublic Group of Companies during the second quarter valued at approximately $605,000. Finally, Cetera Investment Advisers grew its position in Interpublic Group of Companies by 87.4% in the first quarter. Cetera Investment Advisers now owns 73,149 shares of the business services provider’s stock worth $2,387,000 after buying an additional 34,122 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IPG has been the subject of a number of analyst reports. Macquarie reiterated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lowered shares of 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 research report on Tuesday, October 1st. Wells Fargo & Company reiterated an “underweight” rating and set a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Bank of America dropped their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, Barclays reduced their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies Stock Down 0.5 %

Shares of NYSE:IPG opened at $30.48 on Friday. The firm has a fifty day moving average of $30.32 and a 200 day moving average of $30.50. 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 52-week low of $26.88 and a 52-week high of $35.17. The firm has a market capitalization of $11.35 billion, a PE ratio of 14.38 and a beta of 1.10.

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

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.33%. Interpublic Group of Companies’s payout ratio is 62.26%.

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.