Sierra Summit Advisors LLC Has $414,000 Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Sierra Summit Advisors LLC lifted its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 12.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,217 shares of the business services provider’s stock after purchasing an additional 1,580 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Interpublic Group of Companies were worth $414,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. UMB Bank n.a. raised its stake in shares of Interpublic Group of Companies by 3.5% in the 1st quarter. UMB Bank n.a. now owns 9,607 shares of the business services provider’s stock valued at $313,000 after buying an additional 321 shares in the last quarter. Legacy Wealth Asset Management LLC raised its position in Interpublic Group of Companies by 3.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider’s stock worth $356,000 after purchasing an additional 347 shares in the last quarter. Richardson Financial Services Inc. raised its position in Interpublic Group of Companies by 8.4% in the first quarter. Richardson Financial Services Inc. now owns 4,530 shares of the business services provider’s stock worth $148,000 after purchasing an additional 350 shares in the last quarter. Assetmark Inc. lifted its stake in Interpublic Group of Companies by 27.5% during the fourth quarter. Assetmark Inc. now owns 1,706 shares of the business services provider’s stock worth $56,000 after purchasing an additional 368 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Interpublic Group of Companies by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 17,584 shares of the business services provider’s stock valued at $494,000 after purchasing an additional 382 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Barclays dropped their target price 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 report on Thursday, July 25th. Macquarie reduced their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $34.00 to $29.00 in a report on Thursday. Finally, 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $33.00.

Interpublic Group of Companies Price Performance

Shares of IPG stock opened at $30.85 on Monday. 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 current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average is $30.77 and its 200-day moving average is $30.96. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 5.17 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data 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 firm 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%. Interpublic Group of Companies’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 EPS. Sell-side analysts forecast that The Interpublic Group of Companies, Inc. will post 2.82 EPS for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio is 46.98%.

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.