Wealth Enhancement Advisory Services LLC Buys 1,721 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Wealth Enhancement Advisory Services LLC grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 48,648 shares of the business services provider’s stock after purchasing an additional 1,721 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Interpublic Group of Companies were worth $1,539,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. grew its stake in Interpublic Group of Companies by 73.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 375 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Interpublic Group of Companies by 652.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after buying an additional 900 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Interpublic Group of Companies in the second quarter worth about $32,000. EverSource Wealth Advisors LLC boosted 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 worth $38,000 after acquiring an additional 405 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Interpublic Group of Companies during the 2nd quarter worth approximately $39,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IPG shares. Macquarie restated a “neutral” rating and set a $31.00 price target on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Bank of America cut their target price on shares of 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. Wells Fargo & Company reiterated an “underweight” rating and issued a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Finally, Barclays lowered their price objective on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.57.

Interpublic Group of Companies Stock Up 0.3 %

Interpublic Group of Companies stock opened at $29.48 on Monday. The company has a market capitalization of $10.98 billion, a P/E ratio of 13.91, a PEG ratio of 4.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The Interpublic Group of Companies, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $35.17. The stock has a 50-day simple moving average of $31.15 and a 200-day simple moving average of $30.70.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is currently 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.