Sierra Summit Advisors LLC Acquires 1,580 Shares of The Interpublic Group of Companies, Inc. (NYSE:IPG)

Sierra Summit Advisors LLC boosted its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 12.5% in the second quarter, Holdings Channel.com reports. The fund owned 14,217 shares of the business services provider’s stock after buying an additional 1,580 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Interpublic Group of Companies were worth $414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Interpublic Group of Companies by 12.1% in the first quarter. Bank of New York Mellon Corp now owns 14,096,675 shares of the business services provider’s stock valued at $459,975,000 after purchasing an additional 1,516,975 shares during the last quarter. Norges Bank bought a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at about $32,620,000. Jacobs Levy Equity Management Inc. raised its position in shares of Interpublic Group of Companies by 101.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,690,523 shares of the business services provider’s stock valued at $55,162,000 after acquiring an additional 853,287 shares during the period. Dimensional Fund Advisors LP boosted its stake in Interpublic Group of Companies by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,842,846 shares of the business services provider’s stock worth $199,063,000 after acquiring an additional 828,150 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Interpublic Group of Companies by 12.7% during the fourth quarter. First Trust Advisors LP now owns 6,922,608 shares of the business services provider’s stock valued at $225,954,000 after purchasing an additional 777,456 shares during the period. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 1.0 %

Shares of Interpublic Group of Companies stock opened at $30.85 on Monday. The firm has a market cap of $11.64 billion, a PE ratio of 10.98, a P/E/G ratio of 5.17 and a beta of 1.10. The business’s 50 day simple moving average is $30.77 and its 200 day simple moving average is $30.96. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07. The Interpublic Group of Companies, Inc. has a 52-week low of $27.20 and a 52-week high of $35.17.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.33 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.28%. Interpublic Group of Companies’s payout ratio is currently 46.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Macquarie cut their target price on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Bank of America reduced their target price on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Barclays decreased their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Morgan Stanley lowered Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $34.00 to $28.00 in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.00.

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.