Merit Financial Group LLC Boosts Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Merit Financial Group LLC increased its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,612 shares of the business services provider’s stock after purchasing an additional 2,249 shares during the period. Merit Financial Group LLC’s holdings in Interpublic Group of Companies were worth $606,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in shares of Interpublic Group of Companies by 4.5% in the second quarter. Pacer Advisors Inc. now owns 27,319 shares of the business services provider’s stock worth $795,000 after buying an additional 1,188 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in Interpublic Group of Companies by 4.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 167,945 shares of the business services provider’s stock valued at $4,886,000 after purchasing an additional 6,425 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Interpublic Group of Companies by 16.3% in the 2nd quarter. Profund Advisors LLC now owns 12,279 shares of the business services provider’s stock worth $357,000 after purchasing an additional 1,720 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Interpublic Group of Companies by 4.5% in the 2nd quarter. ProShare Advisors LLC now owns 70,307 shares of the business services provider’s stock worth $2,045,000 after purchasing an additional 3,015 shares in the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Interpublic Group of Companies in the second quarter worth $371,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Up 0.0 %

Shares of IPG stock opened at $28.22 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The Interpublic Group of Companies, Inc. has a one year low of $26.30 and a one year high of $35.17. The company’s fifty day moving average price is $28.77 and its 200-day moving average price is $30.05. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 13.31 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 2.81 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.26%.

Wall Street Analysts Forecast Growth

IPG has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $33.00 in a report on Tuesday, October 1st. Barclays decreased their target price on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $26.00 to $34.00 in a report on Tuesday, December 10th. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Friday, January 10th. Finally, Macquarie restated a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Two 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.50.

About Interpublic Group of Companies

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.