Cyndeo Wealth Partners LLC Takes $7.50 Million Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Cyndeo Wealth Partners LLC acquired a new stake in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 275,962 shares of the business services provider’s stock, valued at approximately $7,495,000. Cyndeo Wealth Partners LLC owned approximately 0.07% of Interpublic Group of Companies at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its stake in Interpublic Group of Companies by 139.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider’s stock valued at $370,157,000 after buying an additional 7,693,636 shares in the last quarter. Amundi lifted its stake in Interpublic Group of Companies by 133.6% during the fourth quarter. Amundi now owns 5,402,201 shares of the business services provider’s stock valued at $150,393,000 after buying an additional 3,089,387 shares in the last quarter. Magnetar Financial LLC lifted its stake in Interpublic Group of Companies by 12,548.6% during the fourth quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider’s stock valued at $67,955,000 after buying an additional 2,406,073 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Interpublic Group of Companies during the fourth quarter valued at about $51,794,000. Finally, First Trust Advisors LP lifted its stake in Interpublic Group of Companies by 13.0% during the fourth quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider’s stock valued at $363,584,000 after buying an additional 1,492,019 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IPG. Barclays reduced their price objective on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Argus lowered shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Citigroup reaffirmed a “buy” rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Finally, Wall Street Zen started coverage on shares of Interpublic Group of Companies in a research report on Tuesday, May 20th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.44.

Interpublic Group of Companies Price Performance

NYSE IPG opened at $22.97 on Monday. The company has a 50 day simple moving average of $24.35 and a 200-day simple moving average of $26.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 12.55 and a beta of 1.06. The Interpublic Group of Companies, Inc. has a 52-week low of $21.90 and a 52-week high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.75%. The ex-dividend date of this dividend is Monday, June 2nd. Interpublic Group of Companies’s payout ratio is presently 100.76%.

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.