Moran Wealth Management LLC Acquires 37,168 Shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Moran Wealth Management LLC increased its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 178,973 shares of the business services provider's stock after acquiring an additional 37,168 shares during the quarter. Moran Wealth Management LLC's holdings in Interpublic Group of Companies were worth $4,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of IPG. Allworth Financial LP increased its holdings in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider's stock worth $31,000 after acquiring an additional 480 shares during the period. Sentry Investment Management LLC purchased a new stake in Interpublic Group of Companies in the first quarter worth approximately $31,000. OFI Invest Asset Management bought a new position in Interpublic Group of Companies during the fourth quarter valued at approximately $36,000. Raiffeisen Bank International AG purchased a new position in shares of Interpublic Group of Companies during the fourth quarter worth approximately $42,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Interpublic Group of Companies in the 1st quarter worth approximately $44,000. 98.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup reaffirmed a "buy" rating and set a $35.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Barclays cut Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $34.00 to $27.50 in a research note on Wednesday. Finally, Wall Street Zen initiated coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Interpublic Group of Companies currently has an average rating of "Hold" and a consensus price target of $32.72.

Interpublic Group of Companies Trading Up 0.3%

NYSE:IPG traded up $0.06 during mid-day trading on Friday, reaching $24.30. 9,432,246 shares of the company's stock traded hands, compared to its average volume of 5,817,211. The company has a 50 day moving average price of $24.25 and a 200-day moving average price of $26.19. The firm has a market capitalization of $8.99 billion, a price-to-earnings 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 12-month low of $22.51 and a 12-month high of $33.05.

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

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend was Monday, June 2nd. Interpublic Group of Companies's 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.