Holocene Advisors LP Acquires 166,839 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Holocene Advisors LP lifted its stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 127.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 298,002 shares of the business services provider's stock after acquiring an additional 166,839 shares during the period. Holocene Advisors LP owned approximately 0.08% of Interpublic Group of Companies worth $9,426,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Catalyst Capital Advisors LLC purchased a new stake in Interpublic Group of Companies during the third quarter valued at about $26,000. Benjamin Edwards Inc. boosted its position in Interpublic Group of Companies by 73.8% during 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 during the period. Ashton Thomas Securities LLC purchased a new stake in Interpublic Group of Companies during the third quarter valued at about $32,000. Hazlett Burt & Watson Inc. boosted its holdings 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 purchasing an additional 900 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Interpublic Group of Companies during the second quarter worth about $32,000. 98.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IPG shares. StockNews.com upgraded shares of Interpublic Group of Companies from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. BNP Paribas lowered shares of Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a report on Monday, September 30th. 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 report on Wednesday, October 23rd. UBS Group downgraded shares of Interpublic Group of Companies from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $26.00 price target (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Interpublic Group of Companies presently has an average rating of "Hold" and a consensus target price of $30.57.

Interpublic Group of Companies Stock Down 2.2 %

Shares of NYSE IPG traded down $0.67 on Wednesday, reaching $29.23. 5,076,787 shares of the company's stock traded hands, compared to its average volume of 4,035,290. The business's 50 day simple moving average is $30.23 and its two-hundred day simple moving average is $30.45. The Interpublic Group of Companies, Inc. has a 12 month low of $26.88 and a 12 month high of $35.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market cap of $10.89 billion, a price-to-earnings ratio of 13.79 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 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 firm 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 company posted $0.70 earnings per share. The business's revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared 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 4.52%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies's dividend payout ratio is presently 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.