Merit Financial Group LLC Buys 2,249 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Merit Financial Group LLC boosted its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,612 shares of the business services provider’s stock after purchasing an additional 2,249 shares during the quarter. Merit Financial Group LLC’s holdings in Interpublic Group of Companies were worth $606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in Interpublic Group of Companies in the third quarter worth $32,000. EverSource Wealth Advisors LLC raised its stake in Interpublic Group of Companies by 52.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 405 shares in the last quarter. Brooklyn Investment Group bought a new position in Interpublic Group of Companies during the third quarter valued at $60,000. Finally, Trust Co. of Vermont grew its stake in shares of Interpublic Group of Companies by 250.0% in the 3rd quarter. Trust Co. of Vermont now owns 2,100 shares of the business services provider’s stock worth $66,000 after buying an additional 1,500 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of Interpublic Group of Companies stock opened at $28.22 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average is $28.77 and its two-hundred day moving average is $30.05. The Interpublic Group of Companies, Inc. has a 52 week low of $26.30 and a 52 week high of $35.17. The company has a market capitalization of $10.51 billion, a PE ratio of 13.31 and a beta of 1.11.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.76%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, analysts expect that The Interpublic Group of Companies, Inc. will post 2.81 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 62.26%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $33.00 in a research note on Tuesday, October 1st. StockNews.com initiated coverage on Interpublic Group of Companies in a report on Monday. They issued a “hold” rating for the company. Wells Fargo & Company upgraded Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Finally, Barclays dropped their price objective on shares of Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.50.

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.