Merit Financial Group LLC Invests $407,000 in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Merit Financial Group LLC bought a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the fourth quarter, HoldingsChannel reports. The firm bought 12,468 shares of the business services provider’s stock, valued at approximately $407,000.

A number of other institutional investors also recently modified their holdings of the company. Marino Stram & Associates LLC boosted its holdings in shares of Interpublic Group of Companies by 1.2% during the fourth quarter. Marino Stram & Associates LLC now owns 26,654 shares of the business services provider’s stock worth $870,000 after purchasing an additional 315 shares during the period. Bleakley Financial Group LLC boosted its holdings in shares of Interpublic Group of Companies by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after purchasing an additional 327 shares during the period. Simplicity Solutions LLC boosted its holdings in shares of Interpublic Group of Companies by 4.6% during the fourth quarter. Simplicity Solutions LLC now owns 7,364 shares of the business services provider’s stock worth $240,000 after purchasing an additional 327 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Interpublic Group of Companies by 16.3% during the fourth quarter. Lindbrook Capital LLC now owns 2,748 shares of the business services provider’s stock worth $90,000 after purchasing an additional 385 shares during the period. Finally, Keybank National Association OH boosted its holdings in shares of Interpublic Group of Companies by 3.3% during the third quarter. Keybank National Association OH now owns 12,000 shares of the business services provider’s stock worth $344,000 after purchasing an additional 387 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IPG has been the subject of several research analyst reports. UBS Group initiated coverage on shares of Interpublic Group of Companies in a report on Thursday, January 11th. They issued a “neutral” rating and a $36.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Barclays raised their price objective on shares of Interpublic Group of Companies from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Interpublic Group of Companies from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of “Hold” and an average price target of $35.13.

Insider Buying and Selling

In related news, CAO Christopher F. Carroll sold 18,382 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total value of $591,900.40. Following the sale, the chief accounting officer now owns 42,390 shares in the company, valued at $1,364,958. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Christopher F. Carroll sold 18,382 shares of Interpublic Group of Companies stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $32.20, for a total transaction of $591,900.40. Following the transaction, the chief accounting officer now owns 42,390 shares in the company, valued at approximately $1,364,958. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philippe Krakowsky sold 150,403 shares of Interpublic Group of Companies stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $32.20, for a total transaction of $4,842,976.60. Following the transaction, the chief executive officer now owns 415,776 shares in the company, valued at approximately $13,387,987.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,646 shares of company stock worth $8,038,601. 0.42% of the stock is owned by insiders.

Interpublic Group of Companies Price Performance

Shares of IPG opened at $30.96 on Wednesday. The company has a market capitalization of $11.68 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average of $31.66 and a 200 day moving average of $31.48. The Interpublic Group of Companies, Inc. has a twelve month low of $27.20 and a twelve month high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last issued its earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.78 earnings per share for the current fiscal year.

Interpublic Group of Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.33 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 4.26%. This is a boost from Interpublic Group of Companies’s previous quarterly dividend of $0.31. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 46.98%.

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.