My Legacy Advisors LLC Purchases New Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

My Legacy Advisors LLC acquired a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,126 shares of the business services provider's stock, valued at approximately $615,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UMB Bank n.a. raised its stake in shares of Interpublic Group of Companies by 3.5% during the first quarter. UMB Bank n.a. now owns 9,607 shares of the business services provider's stock valued at $313,000 after acquiring an additional 321 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in shares of Interpublic Group of Companies by 3.3% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider's stock worth $356,000 after buying an additional 347 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Interpublic Group of Companies by 8.4% in the 1st quarter. Richardson Financial Services Inc. now owns 4,530 shares of the business services provider's stock worth $148,000 after buying an additional 350 shares during the period. Assetmark Inc. grew its position in shares of Interpublic Group of Companies by 27.5% during the 4th quarter. Assetmark Inc. now owns 1,706 shares of the business services provider's stock worth $56,000 after buying an additional 368 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of Interpublic Group of Companies by 16.3% during the fourth quarter. Lindbrook Capital LLC now owns 2,748 shares of the business services provider's stock valued at $90,000 after buying an additional 385 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

Wall Street Analyst Weigh In

IPG has been the subject of a number of research reports. Wells Fargo & Company lowered their price objective on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. dropped their price objective on shares of Interpublic Group of Companies from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Friday, July 12th. Barclays cut their price objective on shares of Interpublic Group of Companies from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Thursday, July 25th. Morgan Stanley lowered Interpublic Group of Companies from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $34.00 to $28.00 in a report on Monday, July 22nd. Finally, Macquarie cut their price target on Interpublic Group of Companies from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $34.13.

Interpublic Group of Companies Stock Up 1.7 %

Shares of Interpublic Group of Companies stock traded up $0.54 during trading on Friday, reaching $32.20. The company's stock had a trading volume of 2,067,223 shares, compared to its average volume of 3,935,891. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $35.17. The company has a 50-day simple moving average of $29.98 and a two-hundred day simple moving average of $31.02. 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 company has a market cap of $12.15 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 3.29 and a beta of 1.12.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.33 billion. During the same period last year, the business posted $0.74 earnings per share. The firm's revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that The Interpublic Group of Companies, Inc. will post 2.8 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.10%. Interpublic Group of Companies's payout ratio is 46.98%.

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.