Prestige Wealth Management Group LLC Grows Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Prestige Wealth Management Group LLC raised its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 22.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,370 shares of the business services provider’s stock after purchasing an additional 1,355 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Interpublic Group of Companies were worth $233,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IPG. Barclays PLC grew its stake in shares of Interpublic Group of Companies by 0.8% during the third quarter. Barclays PLC now owns 1,651,753 shares of the business services provider’s stock valued at $52,243,000 after buying an additional 13,546 shares during the last quarter. SGL Investment Advisors Inc. bought a new position in Interpublic Group of Companies in the 3rd quarter valued at $3,584,000. Nomura Asset Management Co. Ltd. increased its stake in Interpublic Group of Companies by 11.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 116,722 shares of the business services provider’s stock worth $3,692,000 after purchasing an additional 12,347 shares during the period. National Bank of Canada FI increased its stake in Interpublic Group of Companies by 90.0% in the third quarter. National Bank of Canada FI now owns 196,841 shares of the business services provider’s stock worth $6,226,000 after purchasing an additional 93,251 shares during the period. Finally, iA Global Asset Management Inc. boosted its stake in shares of Interpublic Group of Companies by 17.8% during the third quarter. iA Global Asset Management Inc. now owns 9,567 shares of the business services provider’s stock valued at $303,000 after purchasing an additional 1,445 shares during the period. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG opened at $30.29 on Tuesday. 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 company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 14.29 and a beta of 1.10. The firm has a 50 day moving average of $30.12 and a 200 day moving average of $30.40. 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 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 firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the company posted $0.70 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict 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 declared 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 dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, December 2nd. Interpublic Group of Companies’s payout ratio is 62.26%.

Wall Street Analyst Weigh In

Several research firms recently commented on IPG. Macquarie reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $34.00 to $29.00 in a research report on Thursday, September 12th. Bank of America decreased their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company reissued an “underweight” rating and issued a $26.00 price objective (down previously from $28.00) on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.57.

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.