Ashton Thomas Securities LLC Makes New $32,000 Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Ashton Thomas Securities LLC acquired a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,009 shares of the business services provider’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin Edwards Inc. raised 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 in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Interpublic Group of Companies in the 3rd quarter worth approximately $26,000. Hazlett Burt & Watson Inc. lifted its position in shares of Interpublic Group of Companies by 652.2% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,038 shares of the business services provider’s stock worth $30,000 after buying an additional 900 shares during the period. International Assets Investment Management LLC acquired a new stake in Interpublic Group of Companies in the 2nd quarter valued at $32,000. Finally, EverSource Wealth Advisors LLC grew its position in Interpublic Group of Companies by 52.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,177 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 405 shares during the period. 98.43% of the stock is owned by institutional investors.

Interpublic Group of Companies Stock Down 0.3 %

Shares of IPG opened at $29.20 on Friday. The business’s fifty day moving average price is $30.74 and its two-hundred day moving average price is $30.63. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 13.77 and a beta of 1.10. The Interpublic Group of Companies, Inc. has a 52 week low of $28.00 and a 52 week high of $35.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, analysts predict 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 firm also recently disclosed 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. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 4.52%. Interpublic Group of Companies’s dividend payout ratio is currently 62.26%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Bank of America cut their price objective on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Macquarie reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company reiterated 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 report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.57.

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.