Oppenheimer & Co. Inc. Has $449,000 Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Oppenheimer & Co. Inc. lessened its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 3.8% in the third quarter, according to its most recent filing with the SEC. The firm 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.

Several other hedge funds have also recently added to or reduced their stakes in IPG. Catalyst Capital Advisors LLC acquired a new position in Interpublic Group of Companies in the third quarter valued at approximately $26,000. Benjamin Edwards Inc. lifted its position in shares of 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 acquiring an additional 375 shares during the period. Ashton Thomas Securities LLC bought a new position in Interpublic Group of Companies during the third quarter worth $32,000. Hazlett Burt & Watson Inc. grew its holdings in Interpublic Group of Companies by 652.2% in 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 bought a new stake in Interpublic Group of Companies in the second quarter valued at $32,000. Institutional investors own 98.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on IPG. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. Macquarie reiterated a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. 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. Finally, BNP Paribas downgraded Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.57.

Interpublic Group of Companies Stock 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 stock has a market capitalization of $10.88 billion, a PE ratio of 13.77 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 business’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 announced 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 company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the company posted $0.70 EPS. Interpublic Group of Companies’s revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 4.52%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is 62.26%.

Interpublic Group of Companies Company 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.