Prestige Wealth Management Group LLC Boosts Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Prestige Wealth Management Group LLC lifted its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,015 shares of the business services provider’s stock after purchasing an additional 561 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Interpublic Group of Companies were worth $175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Interpublic Group of Companies by 15.0% in the 1st quarter. BNP Paribas Financial Markets now owns 989,318 shares of the business services provider’s stock valued at $32,281,000 after buying an additional 129,215 shares during the period. Cowen AND Company LLC acquired a new stake in Interpublic Group of Companies during the fourth quarter worth $871,000. Norges Bank purchased a new stake in Interpublic Group of Companies in the fourth quarter valued at $32,620,000. Alaska Permanent Fund Corp lifted its stake in shares of Interpublic Group of Companies by 305.6% in the 1st quarter. Alaska Permanent Fund Corp now owns 54,129 shares of the business services provider’s stock valued at $1,766,000 after purchasing an additional 40,785 shares during the last quarter. Finally, Boston Trust Walden Corp grew its holdings in shares of Interpublic Group of Companies by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock worth $34,532,000 after purchasing an additional 34,965 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley cut shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Macquarie lowered their price objective on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut their target price on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. 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. Finally, Barclays cut 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 report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given 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 price target of $33.88.

Interpublic Group of Companies Stock Down 1.2 %

Shares of NYSE IPG traded down $0.37 during mid-day trading on Friday, hitting $31.09. The company had a trading volume of 3,114,293 shares, compared to its average volume of 3,897,896. The company has a market capitalization of $11.73 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 3.44 and a beta of 1.10. The business’s 50-day simple moving average is $30.53 and its 200 day simple moving average is $31.01. The Interpublic Group of Companies, Inc. has a 1-year low of $27.20 and a 1-year high of $35.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the company earned $0.74 EPS. Interpublic Group of Companies’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.25%. The ex-dividend date is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Interpublic Group of Companies Company 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.