The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,705 shares of the business services provider's stock after buying an additional 65,739 shares during the period. Empowered Funds LLC owned 0.09% of Interpublic Group of Companies worth $10,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC purchased a new position in shares of Interpublic Group of Companies during the third quarter worth $26,000. Benjamin Edwards Inc. raised 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 purchasing an additional 375 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at about $32,000. Hazlett Burt & Watson Inc. grew its position in shares of Interpublic Group of Companies by 652.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider's stock worth $30,000 after buying an additional 900 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Interpublic Group of Companies during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG traded down $2.11 on Friday, hitting $27.09. The company had a trading volume of 10,277,402 shares, compared to its average volume of 3,946,664. The business has a 50 day moving average of $30.62 and a 200 day moving average of $30.59. The Interpublic Group of Companies, Inc. has a 52-week low of $27.01 and a 52-week high of $35.17. The company has a market cap of $10.09 billion, a PE ratio of 12.78 and a beta of 1.10. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the firm posted $0.70 EPS. Interpublic Group of Companies's revenue was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 62.26%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Macquarie restated a "neutral" rating and issued a $31.00 price target 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 cut their target price for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Morgan Stanley downgraded Interpublic Group of Companies from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $34.00 to $28.00 in a report on Monday, July 22nd. Bank of America cut their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, September 5th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $26.00 target price (down previously from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. 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. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $30.57.

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.