Sound Income Strategies LLC Acquires 94,777 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Sound Income Strategies LLC raised its position in The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 424,049 shares of the business services provider's stock after acquiring an additional 94,777 shares during the quarter. Sound Income Strategies LLC owned approximately 0.11% of Interpublic Group of Companies worth $11,882,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Catalyst Capital Advisors LLC bought a new position in Interpublic Group of Companies in the third quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new position in Interpublic Group of Companies in the 3rd quarter worth $32,000. EverSource Wealth Advisors LLC lifted its position 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 valued at $38,000 after purchasing an additional 405 shares in the last quarter. Brooklyn Investment Group bought a new stake in Interpublic Group of Companies during the third quarter valued at about $60,000. Finally, Trust Co. of Vermont increased its position in Interpublic Group of Companies by 250.0% in the third quarter. Trust Co. of Vermont now owns 2,100 shares of the business services provider's stock worth $66,000 after buying an additional 1,500 shares in the last quarter. Institutional investors own 98.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IPG. StockNews.com began coverage on shares of Interpublic Group of Companies in a research report on Monday. They issued a "hold" rating for the company. Barclays raised Interpublic Group of Companies from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $32.00 to $36.00 in a report on Friday. Wells Fargo & Company raised shares of Interpublic Group of Companies from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Macquarie reissued a "neutral" rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of "Hold" and a consensus target price of $33.00.

Interpublic Group of Companies Price Performance

IPG traded up $0.28 during trading hours on Friday, hitting $28.55. The company's stock had a trading volume of 3,806,428 shares, compared to its average volume of 4,733,577. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 13.47 and a beta of 1.11. The business's 50-day moving average price is $28.75 and its 200-day moving average price is $30.04. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The Interpublic Group of Companies, Inc. has a 12 month low of $26.30 and a 12 month high of $35.17.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results 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 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 company's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.81 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.62%. Interpublic Group of Companies's payout ratio is 62.26%.

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.