Sound Income Strategies LLC Purchases 17,511 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

by · The Cerbat Gem

Sound Income Strategies LLC boosted its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,272 shares of the business services provider’s stock after acquiring an additional 17,511 shares during the period. Sound Income Strategies LLC owned about 0.09% of Interpublic Group of Companies worth $10,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP raised its stake in Interpublic Group of Companies by 26.0% in the fourth quarter. Quarry LP now owns 2,052 shares of the business services provider’s stock worth $67,000 after buying an additional 423 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new stake in shares of Interpublic Group of Companies during the 4th quarter worth $31,000. V Square Quantitative Management LLC boosted its position in Interpublic Group of Companies by 183.8% during the fourth quarter. V Square Quantitative Management LLC now owns 24,624 shares of the business services provider’s stock valued at $804,000 after purchasing an additional 15,948 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in Interpublic Group of Companies in the fourth quarter valued at about $409,000. Finally, Syon Capital LLC raised its holdings in Interpublic Group of Companies by 19.4% in the fourth quarter. Syon Capital LLC now owns 8,950 shares of the business services provider’s stock worth $292,000 after purchasing an additional 1,453 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG traded up $0.33 during midday trading on Friday, reaching $31.39. The company’s stock had a trading volume of 5,823,651 shares, compared to its average volume of 3,902,417. The firm has a market capitalization of $11.85 billion, a PE ratio of 11.17, a P/E/G ratio of 5.18 and a beta of 1.09. The stock has a fifty day moving average of $31.21 and a 200 day moving average of $30.80. The Interpublic Group of Companies, Inc. has a twelve month low of $27.20 and a twelve month high of $35.17. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. On average, equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.21%. Interpublic Group of Companies’s payout ratio is 46.98%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IPG shares. Barclays cut their price objective 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 report on Wednesday, October 2nd. Macquarie reduced their target price on 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. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. UBS Group downgraded shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Finally, Bank of America lowered their target price on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.44.

Read Our Latest Research Report on IPG

Interpublic Group of Companies Profile

(Free Report)

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.

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