Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Stock Holdings Trimmed by Ritholtz Wealth Management

Ritholtz Wealth Management lowered its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 25.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,156 shares of the business services provider’s stock after selling 3,842 shares during the period. Ritholtz Wealth Management’s holdings in Interpublic Group of Companies were worth $303,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 480 shares in the last quarter. Sentry Investment Management LLC bought a new stake in Interpublic Group of Companies during the 1st quarter valued at $31,000. OFI Invest Asset Management bought a new stake in Interpublic Group of Companies during the 4th quarter valued at $36,000. Raiffeisen Bank International AG bought a new stake in Interpublic Group of Companies during the 4th quarter valued at $42,000. Finally, GeoWealth Management LLC raised its stake in Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 573 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Up 1.3%

Shares of IPG stock opened at $23.39 on Friday. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The stock has a market cap of $8.65 billion, a PE ratio of 17.85 and a beta of 1.06. The business’s fifty day moving average is $24.25 and its 200-day moving average is $26.34. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date was Monday, June 2nd. Interpublic Group of Companies’s payout ratio is 100.76%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen assumed coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They set a “hold” rating on the stock. Citigroup reaffirmed a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Finally, Barclays lowered their price target on Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.44.

Interpublic Group of Companies Company 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.