Aaron Wealth Advisors LLC Makes New Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Aaron Wealth Advisors LLC acquired a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,888 shares of the business services provider’s stock, valued at approximately $218,000.

A number of other hedge funds have also recently added to or reduced their stakes in IPG. Millennium Management LLC boosted its stake in shares of Interpublic Group of Companies by 571.7% in the 2nd quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock valued at $42,657,000 after purchasing an additional 1,248,062 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Interpublic Group of Companies by 19.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 5,436,803 shares of the business services provider’s stock valued at $158,157,000 after purchasing an additional 899,332 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Interpublic Group of Companies by 101.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock valued at $55,162,000 after purchasing an additional 853,287 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Interpublic Group of Companies by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock valued at $199,063,000 after purchasing an additional 828,150 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Interpublic Group of Companies in the 1st quarter valued at about $20,493,000. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $32.03 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07. The company has a market capitalization of $12.09 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 5.18 and a beta of 1.09. The company’s 50 day moving average price is $31.39 and its two-hundred day moving average price is $30.77. The Interpublic Group of Companies, Inc. has a 52 week low of $27.20 and a 52 week high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate 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 net margin of 9.46% and a return on equity of 27.98%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. On average, analysts expect that The Interpublic Group of Companies, Inc. will post 2.83 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.12%. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 46.98%.

Analysts Set New Price Targets

IPG has been the topic of several recent research reports. Barclays reduced their target price on shares of Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Bank of America cut their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Macquarie cut their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Finally, Morgan Stanley downgraded shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $34.00 to $28.00 in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.44.

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.