Apollon Wealth Management LLC Buys New Shares in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Apollon Wealth Management LLC purchased a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,380 shares of the business services provider’s stock, valued at approximately $202,000.

A number of other institutional investors also recently bought and sold shares of IPG. Avantax Advisory Services Inc. purchased a new stake in Interpublic Group of Companies during the 1st quarter worth about $310,000. Ameritas Investment Partners Inc. lifted its holdings in Interpublic Group of Companies by 1,373.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 63,921 shares of the business services provider’s stock worth $2,086,000 after buying an additional 59,583 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Interpublic Group of Companies by 0.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 146,467 shares of the business services provider’s stock worth $4,779,000 after buying an additional 584 shares during the last quarter. UniSuper Management Pty Ltd lifted its holdings in Interpublic Group of Companies by 580.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 32,832 shares of the business services provider’s stock worth $1,071,000 after buying an additional 28,004 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Interpublic Group of Companies by 202.4% during the 1st quarter. Bessemer Group Inc. now owns 56,389 shares of the business services provider’s stock worth $1,840,000 after buying an additional 37,740 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Stock Performance

Shares of IPG stock opened at $27.53 on Tuesday. The stock has a market capitalization of $10.25 billion, a PE ratio of 12.78 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 52-week low of $26.88 and a 52-week high of $35.17. The stock’s 50-day moving average price is $30.62 and its 200 day moving average price is $30.59. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a return on equity of 27.76% and a net margin of 7.44%. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 62.26%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IPG shares. StockNews.com raised Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Macquarie reissued a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Wells Fargo & Company reissued an “underweight” rating and issued a $26.00 target price (down from $28.00) on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $33.00 in a report on Tuesday, October 1st. Finally, UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their target price for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.57.

Interpublic Group of Companies 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.