Philip James Wealth Mangement LLC Buys Shares of 20,040 The Interpublic Group of Companies, Inc. (NYSE:IPG)

Philip James Wealth Mangement LLC bought a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,040 shares of the business services provider's stock, valued at approximately $634,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. grew its stake in Interpublic Group of Companies by 73.8% in the second 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 in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its stake 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 last quarter. International Assets Investment Management LLC bought a new stake in shares of Interpublic Group of Companies in the 2nd quarter valued at about $32,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider's stock worth $38,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 98.43% of the company's stock.

Wall Street Analyst Weigh In

IPG has been the topic of several research analyst reports. Barclays dropped their price objective on Interpublic Group of Companies from $32.50 to $32.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley downgraded shares of Interpublic Group of Companies from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $34.00 to $28.00 in a report on Monday, July 22nd. StockNews.com upgraded shares of Interpublic Group of Companies from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Wells Fargo & Company reiterated an "underweight" rating and issued a $26.00 price target (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, Bank of America reduced their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, September 5th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $30.57.

Interpublic Group of Companies Stock Performance

Shares of IPG traded down $0.23 during mid-day trading on Friday, hitting $29.84. 3,709,165 shares of the company's stock were exchanged, compared to its average volume of 3,915,283. 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 firm has a market cap of $11.12 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 4.93 and a beta of 1.10. The stock's 50-day simple moving average is $30.95 and its 200-day simple moving average is $30.68. The Interpublic Group of Companies, Inc. has a 52 week low of $28.00 and a 52 week high of $35.17.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate 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 return on equity of 27.76% and a net margin of 7.44%. The company's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS. On average, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company 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 is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.42%. Interpublic Group of Companies's payout ratio is 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.