MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Holdings in 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. raised its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 56.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 272,788 shares of the business services provider's stock after buying an additional 98,543 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.07% of Interpublic Group of Companies worth $7,379,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sentry Investment Management LLC purchased a new position in Interpublic Group of Companies in the first quarter valued at $31,000. Raiffeisen Bank International AG purchased a new position in Interpublic Group of Companies in the fourth quarter valued at $42,000. FNY Investment Advisers LLC acquired a new stake in shares of Interpublic Group of Companies in the first quarter valued at about $44,000. Grove Bank & Trust grew its position in shares of Interpublic Group of Companies by 1,219.5% in the first quarter. Grove Bank & Trust now owns 2,164 shares of the business services provider's stock valued at $59,000 after purchasing an additional 2,000 shares during the period. Finally, Brooklyn Investment Group grew its position in shares of 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 valued at $64,000 after purchasing an additional 391 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Stock Performance

IPG opened at $25.97 on Thursday. The firm has a market capitalization of $9.51 billion, a PE ratio of 22.01 and a beta of 1.09. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The firm's 50-day moving average price is $25.68 and its 200 day moving average price is $25.24. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.20. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. Interpublic Group of Companies's quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. As a group, sell-side analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders 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 dividend on an annualized basis and a yield of 5.1%. Interpublic Group of Companies's payout ratio is 111.86%.

Analysts Set New Price Targets

IPG has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. Barclays lowered shares of 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 research report on Wednesday, June 25th. Finally, UBS Group dropped their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $32.01.

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.

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