Financial Management Professionals Inc. Invests $29,000 in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Financial Management Professionals Inc. purchased a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 744 shares of the business services provider’s stock, valued at approximately $29,000.

A number of other institutional investors have also recently added to or reduced their stakes in IPG. Compass Wealth Management LLC acquired a new stake in Interpublic Group of Companies in the 4th quarter valued at $25,000. Clear Street Markets LLC lifted its holdings in Interpublic Group of Companies by 94.9% in the 1st quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 372 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Interpublic Group of Companies in the 1st quarter valued at $33,000. Compagnie Lombard Odier SCmA purchased a new position in Interpublic Group of Companies in the 4th quarter valued at $34,000. Finally, Resurgent Financial Advisors LLC purchased a new position in Interpublic Group of Companies in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 1.0 %

Shares of NYSE:IPG opened at $30.74 on Friday. The business has a 50-day moving average price of $33.78 and a 200 day moving average price of $35.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.44 and a beta of 1.11. The Interpublic Group of Companies, Inc. has a 12-month low of $25.14 and a 12-month high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Friday, July 21st. The business services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.13. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.39 billion. Interpublic Group of Companies had a return on equity of 29.72% and a net margin of 8.70%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. Sell-side analysts expect that The Interpublic Group of Companies, Inc. will post 3.05 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Thursday, August 31st. Interpublic Group of Companies’s payout ratio is 51.45%.

Analysts Set New Price Targets

A number of brokerages have weighed in on IPG. StockNews.com began coverage on Interpublic Group of Companies in a report on Wednesday, August 23rd. They issued a “hold” rating on the stock. Bank of America decreased their price objective on Interpublic Group of Companies from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, July 24th. Citigroup reduced their price target on Interpublic Group of Companies from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, July 24th. Wells Fargo & Company lowered Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $43.00 to $33.00 in a report on Monday, July 24th. Finally, Morgan Stanley reduced their price target on Interpublic Group of Companies from $42.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, July 24th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of “Hold” and a consensus target price of $39.00.

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.