Kerusso Capital Management LLC Invests $1.17 Million in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Kerusso Capital Management LLC acquired a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 40,209 shares of the business services provider’s stock, valued at approximately $1,170,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. purchased a new position in shares of Interpublic Group of Companies in the fourth quarter worth about $31,000. International Assets Investment Management LLC acquired a new position in shares of Interpublic Group of Companies during the 2nd quarter worth approximately $32,000. Headlands Technologies LLC purchased a new stake in shares of Interpublic Group of Companies in the first quarter valued at approximately $42,000. Salomon & Ludwin LLC grew its position in shares of Interpublic Group of Companies by 2,024.6% in the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 1,235 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Interpublic Group of Companies by 27.5% in the fourth quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Morgan Stanley lowered shares of Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $34.00 to $28.00 in a report on Monday, July 22nd. Macquarie reduced 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 research note on Thursday, July 25th. Barclays dropped their price target on shares of 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. Finally, Bank of America reduced their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.88.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $31.09 on Friday. The company’s 50 day simple moving average is $30.53 and its 200-day simple moving average is $31.01. 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 1 year low of $27.20 and a 1 year high of $35.17. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 3.44 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Interpublic Group of Companies had a return on equity of 27.98% and a net margin of 9.46%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts expect that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.25%. The ex-dividend date is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

Interpublic Group of Companies 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.