Oppenheimer & Co. Inc. Sells 555 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Oppenheimer & Co. Inc. lowered its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,206 shares of the business services provider’s stock after selling 555 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Interpublic Group of Companies were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IPG. Boston Trust Walden Corp lifted its stake in shares of 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 purchasing an additional 34,965 shares during the period. Tidal Investments LLC boosted its holdings in shares of Interpublic Group of Companies by 68.0% during the 1st quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock valued at $3,949,000 after buying an additional 48,996 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Interpublic Group of Companies by 176.5% in the 2nd quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock worth $7,403,000 after buying 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 2nd quarter. Andra AP fonden now owns 532,100 shares of the business services provider’s stock worth $15,479,000 after acquiring an additional 74,200 shares in the last quarter. Finally, M&G Plc purchased a new position in Interpublic Group of Companies during the 2nd quarter valued at about $605,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IPG. Wells Fargo & Company reaffirmed an “underweight” rating and set a $26.00 target price (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Bank of America reduced their price target 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. Finally, BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Trading Up 2.9 %

Shares of NYSE:IPG opened at $29.20 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. 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 market cap of $10.88 billion, a P/E ratio of 13.77 and a beta of 1.10. The stock’s fifty day moving average price is $30.43 and its 200-day moving average price is $30.53.

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 the consensus estimate 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 analysts’ expectations of $2.30 billion. During the same quarter in the prior year, the business earned $0.70 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business 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 $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 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.