Essex Financial Services Inc. Has $272,000 Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Essex Financial Services Inc. boosted its position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,715 shares of the business services provider’s stock after purchasing an additional 942 shares during the quarter. Essex Financial Services Inc.’s holdings in Interpublic Group of Companies were worth $272,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new position in shares of Interpublic Group of Companies in the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Interpublic Group of Companies in the third quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new position in shares of Interpublic Group of Companies in the third quarter valued at approximately $60,000. Trust Co. of Vermont boosted its holdings in shares of Interpublic Group of Companies by 250.0% in the third quarter. Trust Co. of Vermont now owns 2,100 shares of the business services provider’s stock valued at $66,000 after buying an additional 1,500 shares during the period. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Interpublic Group of Companies by 31.8% in the third quarter. Raleigh Capital Management Inc. now owns 2,356 shares of the business services provider’s stock valued at $75,000 after buying an additional 568 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IPG shares. JPMorgan Chase & Co. upgraded shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and upped their price target for the company from $32.00 to $39.00 in a report on Monday, January 27th. Barclays raised shares of Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $32.00 to $36.00 in a research report on Friday, January 24th. StockNews.com started coverage on shares of Interpublic Group of Companies in a research report on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company raised shares of Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $26.00 to $34.00 in a research report on Tuesday, December 10th. Finally, Macquarie reissued a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.50.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $27.00 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average price is $28.40 and its two-hundred day moving average price is $29.90. The Interpublic Group of Companies, Inc. has a 1 year low of $26.30 and a 1 year high of $35.17. The firm has a market capitalization of $10.06 billion, a P/E ratio of 12.74 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.04). Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. As a group, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Monday, March 3rd. Interpublic Group of Companies’s payout ratio is presently 72.13%.

Interpublic Group of Companies declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $155.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.