DoubleLine ETF Adviser LP Has $1.29 Million Stock Position in Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• DoubleLine ETF Adviser LP has reduced its stake in Interpublic Group of Companies by 17.9%, now holding 47,588 shares, valued at approximately $1.29 million.
• Several institutional investors have also recently changed their positions regarding Interpublic, with notable increases from Grove Bank & Trust and Brooklyn Investment Group.
• Interpublic Group's latest quarterly report showed earnings of $0.75 EPS, surpassing analyst expectations, although the company’s revenue declined by 6.6% compared to last year.

DoubleLine ETF Adviser LP lowered its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 17.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,588 shares of the business services provider's stock after selling 10,397 shares during the quarter. DoubleLine ETF Adviser LP's holdings in Interpublic Group of Companies were worth $1,292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sentry Investment Management LLC acquired a new stake in shares of Interpublic Group of Companies during the first quarter worth $31,000. Raiffeisen Bank International AG bought a new position in shares of Interpublic Group of Companies in the 4th quarter worth about $42,000. FNY Investment Advisers LLC acquired a new position in Interpublic Group of Companies during the 1st quarter valued at about $44,000. Grove Bank & Trust raised its holdings 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 worth $59,000 after purchasing an additional 2,000 shares during the period. Finally, Brooklyn Investment Group grew its position in Interpublic Group of Companies by 20.0% in the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider's stock worth $64,000 after acquiring an additional 391 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IPG has been the subject of a number of analyst reports. Wall Street Zen upgraded Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. UBS Group cut 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. Barclays cut shares of Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Interpublic Group of Companies currently has an average rating of "Hold" and an average target price of $32.01.

Interpublic Group of Companies Price Performance

Shares of NYSE:IPG traded down $0.35 during trading on Tuesday, hitting $26.67. 1,859,697 shares of the company's stock were exchanged, compared to its average volume of 6,773,465. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 22.59 and a beta of 1.09. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The business's 50-day simple moving average is $25.65 and its 200 day simple moving average is $25.23. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. As a group, equities analysts predict that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. Interpublic Group of Companies's payout ratio is 111.86%.

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.