EverSource Wealth Advisors LLC Has $38,000 Stake in The Interpublic Group of Companies, Inc. (NYSE:IPG)

EverSource Wealth Advisors LLC lifted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 52.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,177 shares of the business services provider’s stock after purchasing an additional 405 shares during the period. EverSource Wealth Advisors LLC’s holdings in Interpublic Group of Companies were worth $38,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IPG. Norges Bank acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at $32,620,000. Assetmark Inc. lifted its holdings in Interpublic Group of Companies by 27.5% during the 4th quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock worth $56,000 after buying an additional 368 shares during the period. Stifel Financial Corp lifted its holdings in Interpublic Group of Companies by 25.6% during the 4th quarter. Stifel Financial Corp now owns 339,770 shares of the business services provider’s stock worth $11,090,000 after buying an additional 69,289 shares during the period. Focus Financial Network Inc. ADV acquired a new position in Interpublic Group of Companies during the 4th quarter worth about $383,000. Finally, J. W. Coons Advisors LLC lifted its holdings in Interpublic Group of Companies by 5.6% during the 4th quarter. J. W. Coons Advisors LLC now owns 11,731 shares of the business services provider’s stock worth $383,000 after buying an additional 623 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Macquarie cut their target price 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. Bank of America cut their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Barclays cut their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. UBS Group lowered Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. lowered their price objective on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and an average price target of $33.00.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $31.62 on Friday. The Interpublic Group of Companies, Inc. has a one year low of $27.20 and a one year high of $35.17. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 5.23 and a beta of 1.10. The business has a 50-day simple moving average of $31.14 and a 200 day simple moving average of $30.92. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.07 and a quick ratio of 1.06.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company posted $0.74 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. Interpublic Group of Companies’s payout ratio is 46.98%.

Interpublic Group of Companies Company 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.