SGL Investment Advisors Inc. purchased a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 122,746 shares of the business services provider's stock, valued at approximately $3,584,000. Interpublic Group of Companies comprises approximately 1.8% of SGL Investment Advisors Inc.'s holdings, making the stock its 26th largest position.
Several other institutional investors have also added to or reduced their stakes in IPG. Catalyst Capital Advisors LLC bought a new stake in Interpublic Group of Companies in the third quarter worth $26,000. Benjamin Edwards Inc. increased its holdings in shares of Interpublic Group of Companies by 73.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider's stock worth $26,000 after buying an additional 375 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Interpublic Group of Companies during the 3rd quarter valued at about $32,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider's stock valued at $30,000 after acquiring an additional 900 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Interpublic Group of Companies during the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 98.43% of the company's stock.
Interpublic Group of Companies Stock Up 5.3 %
Interpublic Group of Companies stock traded up $1.55 during mid-day trading on Monday, reaching $30.81. 25,920,800 shares of the company were exchanged, compared to its average volume of 4,130,432. 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 firm has a market cap of $11.48 billion, a P/E ratio of 15.30 and a beta of 1.10. The business has a fifty day moving average of $30.15 and a 200 day moving average of $30.40. The Interpublic Group of Companies, Inc. has a 12-month low of $26.88 and a 12-month high of $35.17.
Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting analysts' consensus estimates of $0.70. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. Research analysts anticipate 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 company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies's dividend payout ratio is currently 62.26%.
Wall Street Analysts Forecast Growth
IPG has been the subject of a number of analyst reports. Bank of America lowered their price target on 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. StockNews.com raised shares of Interpublic Group of Companies from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. Barclays reduced their price objective on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas lowered Interpublic Group of Companies from a "neutral" rating to an "underperform" rating in a research report on Monday, September 30th. Finally, UBS Group downgraded Interpublic Group of Companies from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $34.00 to $29.00 in a report on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $30.57.
Read Our Latest Stock Analysis on Interpublic Group of Companies
Interpublic Group of Companies Company Profile
(
Free Report)
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.
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