Benjamin F. Edwards & Company Inc. raised its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) by 618.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,159 shares of the business services provider’s stock after purchasing an additional 3,580 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Interpublic Group of Companies were worth $106,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. HighTower Trust Company N.A. bought a new stake in shares of Interpublic Group of Companies in the 3rd quarter worth about $234,000. Patron Partners LLC increased its position in shares of Interpublic Group of Companies by 11.1% in the 3rd quarter. Patron Partners LLC now owns 12,606 shares of the business services provider’s stock worth $323,000 after purchasing an additional 1,260 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Interpublic Group of Companies by 5.1% in the 2nd quarter. Raymond James Trust N.A. now owns 19,255 shares of the business services provider’s stock worth $530,000 after purchasing an additional 930 shares during the last quarter. Mutual Advisors LLC increased its position in shares of Interpublic Group of Companies by 18.8% in the 2nd quarter. Mutual Advisors LLC now owns 22,861 shares of the business services provider’s stock worth $629,000 after purchasing an additional 3,623 shares during the last quarter. Finally, PFS Investments Inc. boosted its holdings in shares of Interpublic Group of Companies by 8.8% in the 2nd quarter. PFS Investments Inc. now owns 219,223 shares of the business services provider’s stock valued at $6,035,000 after buying an additional 17,751 shares during the period. Institutional investors own 96.75% of the company’s stock.
Several research analysts have recently commented on IPG shares. StockNews.com started coverage on shares of Interpublic Group of Companies in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley lifted their price target on shares of Interpublic Group of Companies from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, December 19th. Finally, Bank of America raised shares of Interpublic Group of Companies from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $22.00 to $36.00 in a report on Thursday, January 5th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.
Interpublic Group of Companies stock opened at $35.96 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average price of $33.34 and a two-hundred day moving average price of $30.08. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 3.60 and a beta of 1.08. The Interpublic Group of Companies, Inc. has a 52-week low of $25.14 and a 52-week high of $39.98.
Interpublic Group of Companies (NYSE:IPG – Get Rating) last issued its quarterly earnings results on Friday, October 21st. The business services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. Interpublic Group of Companies had a net margin of 9.18% and a return on equity of 28.78%. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Wednesday, November 30th. Interpublic Group of Companies’s dividend payout ratio is currently 46.03%.
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The company offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines, as well as data science services.
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