SteelPeak Wealth LLC Takes Position in Interpublic Group of Companies, Inc. (The) $IPG

SteelPeak Wealth LLC bought a new position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 39,182 shares of the business services provider's stock, valued at approximately $959,000.

Several other large investors also recently bought and sold shares of IPG. Assenagon Asset Management S.A. increased its stake in shares of Interpublic Group of Companies by 14,575.4% during the second quarter. Assenagon Asset Management S.A. now owns 3,119,249 shares of the business services provider's stock worth $76,359,000 after buying an additional 3,097,994 shares during the period. Goldman Sachs Group Inc. grew its holdings in Interpublic Group of Companies by 49.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider's stock worth $231,138,000 after acquiring an additional 2,797,490 shares in the last quarter. Pentwater Capital Management LP increased its position in shares of Interpublic Group of Companies by 568.6% in the 1st quarter. Pentwater Capital Management LP now owns 2,340,000 shares of the business services provider's stock valued at $63,554,000 after purchasing an additional 1,990,000 shares during the last quarter. Calamos Advisors LLC acquired a new stake in shares of Interpublic Group of Companies in the 1st quarter valued at $46,172,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Interpublic Group of Companies by 149.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,631,682 shares of the business services provider's stock valued at $71,476,000 after purchasing an additional 1,574,777 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Interpublic Group of Companies Trading Up 0.2%

NYSE:IPG opened at $27.30 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78. Interpublic Group of Companies, Inc. has a 52-week low of $22.51 and a 52-week high of $33.05. The stock's 50 day moving average price is $26.22 and its 200 day moving average price is $25.17. The company has a market capitalization of $10.00 billion, a PE ratio of 23.14 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.20. The business 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%.The company's revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. On average, research analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. Interpublic Group of Companies's dividend payout ratio is presently 111.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IPG. UBS Group decreased their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Interpublic Group of Companies in a report on Wednesday. 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 report on Thursday, July 10th. Wall Street Zen raised Interpublic Group of Companies to a "hold" rating in a research report on Saturday, August 16th. Finally, Barclays boosted their target price on Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $32.09.

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.

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