Larson Financial Group LLC Buys 6,300 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Larson Financial Group LLC grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 95.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,892 shares of the business services provider’s stock after purchasing an additional 6,300 shares during the quarter. Larson Financial Group LLC’s holdings in Interpublic Group of Companies were worth $408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IPG. Catalyst Capital Advisors LLC bought a new stake in shares of Interpublic Group of Companies in the 3rd quarter worth approximately $26,000. Benjamin Edwards Inc. lifted its position in Interpublic Group of Companies by 73.8% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the business services provider’s stock worth $26,000 after purchasing an additional 375 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Interpublic Group of Companies during the third quarter worth $32,000. Hazlett Burt & Watson Inc. increased its holdings in Interpublic Group of Companies by 652.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock valued at $30,000 after buying an additional 900 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Interpublic Group of Companies in the 2nd quarter valued at $32,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Trading Down 0.1 %

Shares of IPG opened at $30.64 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 14.45 and a beta of 1.10. The stock has a fifty day moving average price of $30.35 and a two-hundred day moving average price of $30.50. The Interpublic Group of Companies, Inc. has a 52-week low of $26.88 and a 52-week high of $35.17.

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

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Monday, December 2nd. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IPG shares. Macquarie reissued a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Bank of America lowered their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. downgraded Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Barclays cut their price objective on Interpublic Group of Companies from $32.50 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Hold” and an average target price 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.