Intersect Capital LLC Purchases New Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Intersect Capital LLC purchased a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the second quarter, according to its most recent filing with the SEC. The firm purchased 6,647 shares of the business services provider’s stock, valued at approximately $216,000.

Several other large investors have also recently made changes to their positions in IPG. Geneos Wealth Management Inc. acquired a new stake in shares of The Interpublic Group of Companies in the 1st quarter valued at approximately $42,000. AllSquare Wealth Management LLC acquired a new stake in shares of The Interpublic Group of Companies in the 1st quarter valued at approximately $43,000. Pinebridge Investments L.P. acquired a new stake in shares of The Interpublic Group of Companies in the 1st quarter valued at approximately $64,000. Rockefeller Capital Management L.P. raised its position in shares of The Interpublic Group of Companies by 74.9% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 2,062 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 883 shares during the period. Finally, Allred Capital Management LLC bought a new stake in The Interpublic Group of Companies during the 1st quarter worth approximately $76,000.

In other The Interpublic Group of Companies news, Chairman Michael Isor Roth sold 200,000 shares of the firm’s stock in a transaction on Wednesday, July 28th. The stock was sold at an average price of $35.27, for a total transaction of $7,054,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.75% of the company’s stock.

NYSE:IPG opened at $37.02 on Wednesday. The Interpublic Group of Companies, Inc. has a 1-year low of $15.92 and a 1-year high of $37.88. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.93. The firm has a fifty day simple moving average of $35.62 and a 200 day simple moving average of $32.73. The stock has a market capitalization of $14.57 billion, a PE ratio of 19.69, a P/E/G ratio of 1.29 and a beta of 1.06.

The Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, July 20th. The business services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.28. The Interpublic Group of Companies had a net margin of 7.91% and a return on equity of 34.27%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the business earned $0.23 earnings per share. The firm’s revenue was up 22.5% on a year-over-year basis. On average, equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, August 31st. The Interpublic Group of Companies’s dividend payout ratio is 62.43%.

A number of research firms recently issued reports on IPG. Macquarie increased their target price on The Interpublic Group of Companies from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, July 22nd. Barclays reissued an “overweight” rating on shares of The Interpublic Group of Companies in a research note on Friday, July 2nd. Wells Fargo & Company increased their target price on The Interpublic Group of Companies from $36.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 22nd. Morgan Stanley raised their price target on shares of The Interpublic Group of Companies from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 22nd. Finally, BMO Capital Markets raised their price target on shares of The Interpublic Group of Companies from $34.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, July 22nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Interpublic Group of Companies presently has a consensus rating of “Buy” and a consensus target price of $32.27.

About The Interpublic Group of Companies

Interpublic Group of Cos., Inc engages in the provision of advertising and marketing services. The firm specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates through the following segments: Integrated Agency Network (IAN) and Constituency Management Group (CMG).

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Institutional Ownership by Quarter for The Interpublic Group of Companies (NYSE:IPG)

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