Daiwa Securities Group Inc. Has $2.64 Million Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Daiwa Securities Group Inc. grew its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 83,446 shares of the business services provider’s stock after buying an additional 8,349 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Interpublic Group of Companies were worth $2,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of IPG. Rosenberg Matthew Hamilton increased its position in Interpublic Group of Companies by 9.7% during the third quarter. Rosenberg Matthew Hamilton now owns 4,136 shares of the business services provider’s stock worth $131,000 after acquiring an additional 365 shares during the period. Benjamin Edwards Inc. raised its position 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 valued at $26,000 after buying an additional 375 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Interpublic Group of Companies by 2.2% in the second 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 in the last quarter. Ballentine Partners LLC boosted its stake in shares of Interpublic Group of Companies by 2.9% in the third 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 period. Finally, EverSource Wealth Advisors LLC grew its position in 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 in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analyst Upgrades and Downgrades

IPG has been the subject of several analyst reports. Bank of America cut their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Macquarie reiterated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Barclays dropped their target price on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Trading Down 0.5 %

IPG opened at $30.47 on Thursday. The company’s 50 day moving average is $30.34 and its 200-day moving average is $30.50. The company has a market cap of $11.35 billion, a P/E ratio of 14.37 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 1-year low of $26.88 and a 1-year 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.

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

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a yield of 4.33%. Interpublic Group of Companies’s dividend payout ratio is currently 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.