Cyndeo Wealth Partners LLC Buys New Position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Cyndeo Wealth Partners LLC purchased a new position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 275,962 shares of the business services provider's stock, valued at approximately $7,495,000. Cyndeo Wealth Partners LLC owned approximately 0.07% of Interpublic Group of Companies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Canada Pension Plan Investment Board boosted its stake in shares of Interpublic Group of Companies by 139.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider's stock valued at $370,157,000 after purchasing an additional 7,693,636 shares during the period. First Trust Advisors LP boosted its position in Interpublic Group of Companies by 13.0% in the 4th quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider's stock valued at $363,584,000 after buying an additional 1,492,019 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Interpublic Group of Companies by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider's stock valued at $362,538,000 after acquiring an additional 511,607 shares in the last quarter. Invesco Ltd. increased its position in shares of Interpublic Group of Companies by 14.8% during the fourth quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider's stock worth $287,618,000 after acquiring an additional 1,320,345 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Interpublic Group of Companies by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 9,531,530 shares of the business services provider's stock worth $266,614,000 after acquiring an additional 81,996 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

Shares of NYSE:IPG traded down $0.47 on Tuesday, reaching $23.01. 8,201,644 shares of the company's stock were exchanged, compared to its average volume of 5,641,411. The business's 50-day moving average is $24.37 and its two-hundred day moving average is $26.48. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 17.57 and a beta of 1.06.

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

Interpublic Group of Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 5.74%. Interpublic Group of Companies's dividend payout ratio is currently 100.76%.

Analyst Ratings Changes

A number of brokerages have weighed in on IPG. Barclays lowered their price objective on Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Argus downgraded shares of Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Citigroup restated a "buy" rating and issued a $35.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Finally, Wall Street Zen initiated coverage on shares of Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies currently has a consensus rating of "Hold" and an average price target of $33.44.

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.