Sendero Wealth Management LLC Grows Stake in Interpublic Group of Companies, Inc. (The) $IPG

Sendero Wealth Management LLC increased its holdings in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 16.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,297 shares of the business services provider’s stock after purchasing an additional 1,425 shares during the quarter. Sendero Wealth Management LLC’s holdings in Interpublic Group of Companies were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IPG. Teacher Retirement System of Texas purchased a new stake in shares of Interpublic Group of Companies during the 1st quarter worth approximately $1,480,000. Sound Income Strategies LLC raised its stake in Interpublic Group of Companies by 5.6% during the 2nd quarter. Sound Income Strategies LLC now owns 457,333 shares of the business services provider’s stock worth $11,196,000 after acquiring an additional 24,258 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Interpublic Group of Companies by 2.4% in the first quarter. Asset Management One Co. Ltd. now owns 153,830 shares of the business services provider’s stock valued at $4,178,000 after acquiring an additional 3,547 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Interpublic Group of Companies by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 43,655 shares of the business services provider’s stock valued at $1,185,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Interpublic Group of Companies by 49.0% during the first quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock worth $231,138,000 after purchasing an additional 2,797,490 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $26.51 on Monday. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 22.46 and a beta of 1.09. The business’s 50 day moving average is $26.11 and its two-hundred day moving average is $25.14. Interpublic Group of Companies, Inc. has a 12-month low of $22.51 and a 12-month high of $33.05. 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) last posted its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.20. Interpublic Group of Companies had a return on equity of 28.72% and a net margin of 4.27%.The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts expect that Interpublic Group of Companies, Inc. will post 2.66 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. Interpublic Group of Companies’s dividend payout ratio is 111.86%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Interpublic Group of Companies in a report on Saturday, September 27th. Barclays cut shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $34.00 to $27.50 in a report on Wednesday, June 25th. UBS Group decreased their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.01.

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.