E. Ohman J or Asset Management AB Has $380,000 Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

E. Ohman J or Asset Management AB reduced its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 23.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 12,000 shares of the business services provider’s stock after selling 3,700 shares during the period. E. Ohman J or Asset Management AB’s holdings in Interpublic Group of Companies were worth $380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IPG. Millennium Management LLC lifted its stake in Interpublic Group of Companies by 571.7% during the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after purchasing an additional 1,248,062 shares during the period. Canada Pension Plan Investment Board lifted its stake in Interpublic Group of Companies by 19.8% during the second quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock worth $158,157,000 after purchasing an additional 899,332 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Interpublic Group of Companies by 101.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock worth $55,162,000 after purchasing an additional 853,287 shares during the period. Dimensional Fund Advisors LP lifted its stake in Interpublic Group of Companies by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after purchasing an additional 828,150 shares during the period. Finally, Swedbank AB bought a new position in Interpublic Group of Companies during the first quarter worth about $20,493,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $29.80 on Friday. The business’s 50-day simple moving average is $31.33 and its 200 day simple moving average is $30.73. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 4.97 and a beta of 1.09. The Interpublic Group of Companies, Inc. has a 12-month low of $27.54 and a 12-month high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.51%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the firm earned $0.70 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.83 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 62.26%.

Analysts Set New Price Targets

A number of brokerages have commented on IPG. Barclays cut their price target on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday. Macquarie reiterated a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. StockNews.com cut shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $34.00 to $28.00 in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their target price for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.57.

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.