FORA Capital LLC Purchases Shares of 61,175 The Interpublic Group of Companies, Inc. (NYSE:IPG)

FORA Capital LLC acquired a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 61,175 shares of the business services provider’s stock, valued at approximately $1,935,000.

Several other large investors have also modified their holdings of IPG. Benjamin Edwards Inc. increased 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 worth $26,000 after purchasing an additional 375 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at about $26,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Interpublic Group of Companies by 652.2% during the 2nd 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. International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies during the 2nd quarter worth approximately $32,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Interpublic Group of Companies during the 3rd quarter worth approximately $32,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. 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 note on Tuesday, October 22nd. Bank of America decreased their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Macquarie reissued a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Finally, UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $34.00 to $29.00 in a research note on Thursday, September 12th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and a consensus target price of $30.57.

Interpublic Group of Companies Trading Down 0.5 %

NYSE:IPG opened at $30.47 on Thursday. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 14.37 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a one year low of $26.88 and a one year high of $35.17. 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 business’s 50-day simple moving average is $30.34 and its 200 day simple moving average is $30.50.

Interpublic Group of Companies (NYSE:IPG) last announced its 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 company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company posted $0.70 EPS. Interpublic Group of Companies’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.33%. 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.