Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 357,374 shares of the business services provider's stock after acquiring an additional 30,288 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.10% of Interpublic Group of Companies worth $9,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sentry Investment Management LLC acquired a new position in Interpublic Group of Companies during the 1st quarter worth approximately $31,000. OFI Invest Asset Management acquired a new position in Interpublic Group of Companies during the fourth quarter worth $36,000. Raiffeisen Bank International AG acquired a new position in Interpublic Group of Companies during the fourth quarter worth $42,000. FNY Investment Advisers LLC purchased a new position in Interpublic Group of Companies in the first quarter worth $44,000. Finally, Grove Bank & Trust lifted its holdings in 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 acquiring an additional 2,000 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wall Street Zen started coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a "hold" rating for the company. Barclays cut 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 report on Wednesday, June 25th. Finally, Citigroup reissued a "buy" rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies currently has a consensus rating of "Hold" and an average price target of $32.72.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock traded down $0.17 during trading on Friday, hitting $25.38. 4,872,664 shares of the company were exchanged, compared to its average volume of 5,865,478. Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average price of $24.34 and a 200 day moving average price of $26.02. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 19.37 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company posted $0.36 EPS. The business's revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities analysts expect 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 business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date was Monday, June 2nd. 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.