Centerline Wealth Advisors LLC Makes New $982,000 Investment in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Centerline Wealth Advisors LLC bought a new position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,174 shares of the business services provider's stock, valued at approximately $982,000. Interpublic Group of Companies makes up 0.6% of Centerline Wealth Advisors LLC's holdings, making the stock its 20th largest position.

A number of other large investors have also modified their holdings of IPG. Prosperity Consulting Group LLC increased its stake in Interpublic Group of Companies by 2.3% in the 4th quarter. Prosperity Consulting Group LLC now owns 21,236 shares of the business services provider's stock valued at $595,000 after purchasing an additional 470 shares in the last quarter. Diversified Trust Co increased its stake in Interpublic Group of Companies by 0.5% in the 1st quarter. Diversified Trust Co now owns 119,908 shares of the business services provider's stock valued at $3,257,000 after purchasing an additional 572 shares in the last quarter. GeoWealth Management LLC increased its stake in Interpublic Group of Companies by 20.7% in the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock valued at $94,000 after purchasing an additional 573 shares in the last quarter. Palouse Capital Management Inc. increased its stake in Interpublic Group of Companies by 1.1% in the 1st quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider's stock valued at $1,487,000 after purchasing an additional 574 shares in the last quarter. Finally, Xponance Inc. increased its stake in Interpublic Group of Companies by 1.0% in the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider's stock valued at $1,677,000 after purchasing an additional 587 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Price Performance

NYSE:IPG traded up $0.06 during trading hours on Friday, reaching $24.30. 9,432,246 shares of the company traded hands, compared to its average volume of 5,811,874. The firm's 50-day moving average is $24.26 and its 200-day moving average is $26.13. The stock has a market cap of $8.99 billion, a P/E ratio of 18.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The business's revenue was down 6.9% on a year-over-year basis. Equities research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.43%. The ex-dividend date was Monday, June 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is 100.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IPG shares. Citigroup reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Wall Street Zen started coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. Finally, Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $34.00 to $27.50 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $32.72.

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.