Kingsview Wealth Management LLC Raises Stock Holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Kingsview Wealth Management LLC raised its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 37.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 442,466 shares of the business services provider's stock after purchasing an additional 119,802 shares during the period. Kingsview Wealth Management LLC owned 0.12% of Interpublic Group of Companies worth $12,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IPG. Proficio Capital Partners LLC purchased a new stake in Interpublic Group of Companies in the fourth quarter valued at approximately $2,325,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Interpublic Group of Companies by 110.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 34,862 shares of the business services provider's stock valued at $977,000 after acquiring an additional 18,323 shares during the period. Twin Tree Management LP lifted its holdings in Interpublic Group of Companies by 522.0% in the fourth quarter. Twin Tree Management LP now owns 83,890 shares of the business services provider's stock valued at $2,351,000 after acquiring an additional 70,403 shares during the period. Cibc World Markets Corp raised its stake in shares of Interpublic Group of Companies by 1.4% during the 4th quarter. Cibc World Markets Corp now owns 301,789 shares of the business services provider's stock worth $8,456,000 after buying an additional 4,185 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new position in shares of Interpublic Group of Companies during the 4th quarter worth approximately $1,496,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

Analyst Upgrades and Downgrades

IPG has been the subject of several research reports. Wall Street Zen assumed coverage on Interpublic Group of Companies in a research report on Tuesday, May 20th. They set a "hold" rating for the company. Barclays cut Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. JPMorgan Chase & Co. dropped their target price on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Finally, Citigroup restated a "buy" rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $32.06.

Interpublic Group of Companies Stock Up 0.3%

Shares of IPG traded up $0.07 during mid-day trading on Friday, reaching $24.20. The company's stock had a trading volume of 11,070,935 shares, compared to its average volume of 6,037,236. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. The stock has a market cap of $8.95 billion, a PE ratio of 18.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07. The company's 50 day moving average is $24.28 and its 200 day moving average is $25.72.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly 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. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. The firm's quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. Equities analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.33 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.45%. Interpublic Group of Companies's dividend payout ratio (DPR) is currently 100.76%.

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.