Cyndeo Wealth Partners LLC Has $254,000 Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• Cyndeo Wealth Partners LLC significantly reduced its stake in Interpublic Group of Companies by 96.2%, ending up with holdings worth $254,000 after selling 265,576 shares in the second quarter.
• Interpublic Group reported $0.75 earnings per share for the last quarter, surpassing the consensus estimate by $0.20, while experiencing a 6.6% decline in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.33 per share, representing a 5.1% yield with a high dividend payout ratio of 111.86%.

Cyndeo Wealth Partners LLC reduced its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 96.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,386 shares of the business services provider's stock after selling 265,576 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Interpublic Group of Companies were worth $254,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new position in shares of Interpublic Group of Companies in the 1st quarter valued at $44,000. Grove Bank & Trust raised its stake in shares of Interpublic Group of Companies by 1,219.5% in the 1st quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock valued at $59,000 after buying an additional 2,000 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Interpublic Group of Companies by 20.0% in the 1st quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock valued at $64,000 after buying an additional 391 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Interpublic Group of Companies in the 1st quarter valued at $102,000. Finally, Richardson Financial Services Inc. raised its stake in shares of Interpublic Group of Companies by 18.7% in the 1st quarter. Richardson Financial Services Inc. now owns 4,136 shares of the business services provider's stock valued at $112,000 after buying an additional 651 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Trading Down 1.7%

Shares of Interpublic Group of Companies stock opened at $26.11 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $9.56 billion, a P/E ratio of 22.13 and a beta of 1.09. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The company has a 50-day simple moving average of $26.30 and a 200 day simple moving average of $25.16.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.20. The firm had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The company's quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.1%. The ex-dividend date was Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio (DPR) is presently 111.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IPG. Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. Barclays increased their price objective on shares of Interpublic Group of Companies from $27.50 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. UBS Group dropped their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Interpublic Group of Companies in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Interpublic Group of Companies currently has an average rating of "Hold" and an average target price of $32.09.

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.

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