Sound Income Strategies LLC Raises Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

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

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of Interpublic Group of Companies by 571.7% in the second quarter. Millennium Management LLC now owns 1,466,376 shares of the business services provider’s stock worth $42,657,000 after buying an additional 1,248,062 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in 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 worth $158,157,000 after purchasing an additional 899,332 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Interpublic Group of Companies by 101.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock worth $55,162,000 after purchasing an additional 853,287 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Interpublic Group of Companies by 13.8% in the second 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 in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Interpublic Group of Companies in the first quarter valued at approximately $20,493,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Trading Up 1.1 %

Interpublic Group of Companies stock traded up $0.33 during midday trading on Friday, reaching $31.39. 5,823,651 shares of the stock traded hands, compared to its average volume of 3,902,417. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a market cap of $11.85 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 5.18 and a beta of 1.09. The company has a 50-day simple moving average of $31.21 and a two-hundred day simple moving average of $30.80. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month 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 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Research 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 4.21%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IPG shares. Bank of America dropped their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $33.00 in a research note on Tuesday, October 1st. 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 stock from $34.00 to $28.00 in a report on Monday, July 22nd. Macquarie decreased their price objective on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Finally, UBS Group cut Interpublic Group of Companies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $34.00 to $29.00 in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.44.

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.