Exchange Traded Concepts LLC Has $496,000 Position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Exchange Traded Concepts LLC lessened its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 62.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,279 shares of the business services provider's stock after selling 29,963 shares during the period. Exchange Traded Concepts LLC's holdings in Interpublic Group of Companies were worth $496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC increased its holdings in Interpublic Group of Companies by 2.1% in the 1st quarter. Sound Income Strategies LLC now owns 433,075 shares of the business services provider's stock worth $11,762,000 after purchasing an additional 9,026 shares in the last quarter. Palouse Capital Management Inc. increased its holdings 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 worth $1,487,000 after purchasing an additional 574 shares in the last quarter. Donaldson Capital Management LLC increased its holdings in Interpublic Group of Companies by 19.9% in the 1st quarter. Donaldson Capital Management LLC now owns 31,532 shares of the business services provider's stock worth $856,000 after purchasing an additional 5,226 shares in the last quarter. CX Institutional acquired a new position in Interpublic Group of Companies in the 1st quarter worth about $179,000. Finally, SG Americas Securities LLC increased its holdings in Interpublic Group of Companies by 462.1% in the 1st quarter. SG Americas Securities LLC now owns 114,134 shares of the business services provider's stock worth $3,100,000 after purchasing an additional 93,829 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IPG. Wall Street Zen began coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. Citigroup reissued 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, Barclays decreased their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $33.44.

Interpublic Group of Companies Trading Up 1.3%

Shares of IPG stock opened at $23.39 on Friday. The stock has a 50-day moving average of $24.25 and a 200-day moving average of $26.32. Interpublic Group of Companies, Inc. has a 1-year low of $22.51 and a 1-year high of $33.05. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 17.85 and a beta of 1.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $0.33 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 during the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter last year, the firm posted $0.36 earnings per share. The firm's revenue was down 6.9% on a year-over-year basis. On average, equities research analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.33 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.32 annualized dividend and a yield of 5.64%. Interpublic Group of Companies's dividend payout ratio is currently 100.76%.

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.

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