Brooklyn Investment Group Purchases New Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Brooklyn Investment Group bought a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 3rd quarter, HoldingsChannel reports. The firm bought 1,911 shares of the business services provider’s stock, valued at approximately $60,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin Edwards Inc. grew its holdings 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 purchasing an additional 375 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Interpublic Group of Companies during the 3rd quarter worth $26,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Interpublic Group of Companies by 652.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Interpublic Group of Companies in the second quarter valued at approximately $32,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Interpublic Group of Companies during the 3rd quarter worth $32,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Barclays lowered their target price on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. cut Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. StockNews.com upgraded shares of 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 set a $26.00 price objective (down from $28.00) on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. Finally, Bank of America decreased their target price 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. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Trading Down 0.5 %

Shares of IPG stock opened at $30.48 on Friday. 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 fifty-two week low of $26.88 and a fifty-two week high of $35.17. The company has a market cap of $11.35 billion, a PE ratio of 14.38 and a beta of 1.10. The stock’s fifty day moving average price is $30.32 and its two-hundred day moving average price is $30.50.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly 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 return on equity of 27.76% and a net margin of 7.44%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the business earned $0.70 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

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