EverSource Wealth Advisors LLC Acquires 405 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

EverSource Wealth Advisors LLC raised its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 52.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,177 shares of the business services provider’s stock after buying an additional 405 shares during the period. EverSource Wealth Advisors LLC’s holdings in Interpublic Group of Companies were worth $38,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. increased its stake in shares of Interpublic Group of Companies by 73.8% during the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Interpublic Group of Companies by 652.2% during the second 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 period. Voisard Asset Management Group Inc. bought a new position in shares of Interpublic Group of Companies during the fourth quarter worth approximately $31,000. International Assets Investment Management LLC bought a new position in shares of Interpublic Group of Companies during the second quarter worth approximately $32,000. Finally, Quest Partners LLC bought a new position in shares of Interpublic Group of Companies during the second quarter worth approximately $39,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Up 0.4 %

Shares of IPG stock opened at $31.62 on Friday. The stock’s fifty day moving average price is $31.14 and its two-hundred day moving average price is $30.92. The company has a market cap of $11.93 billion, a PE ratio of 11.25, a P/E/G ratio of 5.23 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $35.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal 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 issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is presently 46.98%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. 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 research note on Monday, July 22nd. Bank of America lowered their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Macquarie lowered their price objective on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Finally, Barclays lowered their price objective on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.00.

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.