MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 98,543 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Interpublic Group of Companies by 56.6%, owning approximately 0.07% of the company, valued at around $7.4 million.
• Interpublic Group reported $0.75 earnings per share, exceeding analyst expectations, with quarterly revenue of $2.17 billion, though down 6.6% year-over-year.
• Analysts have set a consensus target price of $32.01 for Interpublic Group, with several recent adjustments from major financial institutions regarding their ratings and price targets.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 56.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,788 shares of the business services provider's stock after purchasing an additional 98,543 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.07% of Interpublic Group of Companies worth $7,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IPG. Integrated Wealth Concepts LLC raised its stake in Interpublic Group of Companies by 62.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,061 shares of the business services provider's stock worth $355,000 after buying an additional 5,004 shares during the period. Alliancebernstein L.P. raised its stake in Interpublic Group of Companies by 149.0% during the 1st quarter. Alliancebernstein L.P. now owns 2,631,682 shares of the business services provider's stock worth $71,476,000 after buying an additional 1,574,777 shares during the period. AQR Arbitrage LLC raised its stake in Interpublic Group of Companies by 158.5% during the 1st quarter. AQR Arbitrage LLC now owns 1,952,307 shares of the business services provider's stock worth $52,527,000 after buying an additional 1,197,102 shares during the period. Ancora Advisors LLC acquired a new position in Interpublic Group of Companies during the 1st quarter worth approximately $102,000. Finally, Adage Capital Partners GP L.L.C. raised its stake in Interpublic Group of Companies by 42.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,753,297 shares of the business services provider's stock worth $47,620,000 after buying an additional 520,192 shares during the period. Institutional investors own 98.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IPG shares. Wall Street Zen raised Interpublic Group of Companies to a "hold" rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. lowered their price objective on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, UBS Group lowered their price objective on Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.01.

Interpublic Group of Companies Stock Performance

Shares of IPG traded up $0.07 on Tuesday, reaching $26.36. 4,324,180 shares of the company's stock traded hands, compared to its average volume of 4,944,057. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The stock has a market cap of $9.65 billion, a PE ratio of 22.34 and a beta of 1.09. The stock's 50 day simple moving average is $25.77 and its two-hundred day simple moving average is $25.20. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. The company had revenue of $2.17 billion during 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%.Interpublic Group of Companies's revenue was down 6.6% on a year-over-year basis. During the same period last year, the business posted $0.61 earnings per share. On average, analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

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