Empower Advisory Group LLC Lowers Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Empower Advisory Group LLC trimmed its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,201 shares of the business services provider’s stock after selling 767 shares during the period. Empower Advisory Group LLC’s holdings in Interpublic Group of Companies were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton boosted its position in Interpublic Group of Companies by 9.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock worth $131,000 after purchasing an additional 365 shares during the period. Benjamin Edwards Inc. boosted its position in Interpublic Group of Companies by 73.8% in the 2nd 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. Farther Finance Advisors LLC boosted its position in Interpublic Group of Companies by 2.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock valued at $494,000 after buying an additional 382 shares during the last quarter. Ballentine Partners LLC boosted its position in Interpublic Group of Companies by 2.9% in the 3rd quarter. Ballentine Partners LLC now owns 14,058 shares of the business services provider’s stock valued at $445,000 after buying an additional 399 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Interpublic Group of Companies by 52.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after buying an additional 405 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Down 7.2 %

Interpublic Group of Companies stock opened at $27.10 on Friday. The company has a market capitalization of $10.10 billion, a P/E ratio of 12.78 and a beta of 1.10. The firm’s fifty day simple moving average is $30.70 and its 200-day simple moving average is $30.62. 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 Interpublic Group of Companies, Inc. has a 1-year low of $27.01 and a 1-year high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last posted its 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. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the business posted $0.70 EPS. Interpublic Group of Companies’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid 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 4.87%. Interpublic Group of Companies’s payout ratio is presently 62.26%.

Wall Street Analyst Weigh In

IPG has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Macquarie restated 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. BNP Paribas lowered shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, 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. Four investment 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, the company has a consensus 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.