International Assets Investment Management LLC Purchases 29,425 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

International Assets Investment Management LLC grew its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 2,679.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,523 shares of the business services provider's stock after purchasing an additional 29,425 shares during the period. International Assets Investment Management LLC's holdings in Interpublic Group of Companies were worth $965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. lifted its holdings in Interpublic Group of Companies by 8.4% during the 1st quarter. Richardson Financial Services Inc. now owns 4,530 shares of the business services provider's stock valued at $148,000 after purchasing an additional 350 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Interpublic Group of Companies by 73.8% during 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 during the last quarter. Farther Finance Advisors LLC lifted its holdings in Interpublic Group of Companies by 2.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider's stock valued at $494,000 after purchasing an additional 382 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Interpublic Group of Companies by 52.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider's stock valued at $38,000 after purchasing an additional 405 shares during the last quarter. Finally, Great Lakes Retirement Inc. lifted its holdings in Interpublic Group of Companies by 4.1% during the 1st quarter. Great Lakes Retirement Inc. now owns 10,620 shares of the business services provider's stock valued at $347,000 after purchasing an additional 422 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IPG has been the subject of a number of research analyst reports. UBS Group downgraded shares of Interpublic Group of Companies from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded shares of 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 research note on Tuesday, October 1st. Bank of America dropped 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. Finally, Morgan Stanley downgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Four research 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $30.57.

Interpublic Group of Companies Trading Up 0.9 %

NYSE IPG traded up $0.27 during trading on Tuesday, reaching $29.77. 2,964,377 shares of the stock traded hands, compared to its average volume of 3,905,708. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 4.93 and a beta of 1.10. The stock's 50-day moving average price is $31.04 and its 200 day moving average price is $30.69. 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 Interpublic Group of Companies, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $35.17.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.30 billion. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The business's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share. Analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.43%. The ex-dividend date 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.