First Trust Direct Indexing L.P. Increases Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Posted by on Jul 18th, 2023

First Trust Direct Indexing L.P. increased its stake in The Interpublic Group of Companies, Inc. (NYSE:IPG – Free Report) by 12.3% in the first quarter, HoldingsChannel.com reports. The firm owned 6,749 shares of the business services provider’s stock after acquiring an additional 739 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Interpublic Group of Companies were worth $251,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in IPG. Compass Wealth Management LLC purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at about $25,000. Sargent Bickham Lagudis LLC purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at about $30,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its holdings in shares of Interpublic Group of Companies by 1,550.0% in the 4th quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 990 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 930 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at about $34,000. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Interpublic Group of Companies in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Interpublic Group of Companies Price Performance

Interpublic Group of Companies stock opened at $40.29 on Tuesday. The Interpublic Group of Companies, Inc. has a 12-month low of $25.14 and a 12-month high of $40.95. The stock has a market capitalization of $15.55 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.65 and a beta of 1.11. The firm’s 50-day moving average is $38.47 and its two-hundred day moving average is $36.96. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.03 and a quick ratio of 1.03.

Interpublic Group of Companies (NYSE:IPG – Get Free Report) last released its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.07. Interpublic Group of Companies had a net margin of 8.31% and a return on equity of 29.28%. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the company earned $0.47 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities analysts predict that The Interpublic Group of Companies, Inc. will post 2.95 earnings per share for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th were given a $0.31 dividend. The ex-dividend date was Monday, June 5th. This represents a $1.24 annualized dividend and a dividend yield of 3.08%. Interpublic Group of Companies’s dividend payout ratio is presently 53.68%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays dropped their target price on shares of Interpublic Group of Companies from $42.00 to $40.00 in a report on Friday, April 28th. Bank of America raised their target price on shares of Interpublic Group of Companies from $40.00 to $44.00 in a report on Sunday, July 2nd. StockNews.com upgraded shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a report on Monday, June 19th. Finally, BNP Paribas downgraded shares of Interpublic Group of Companies from an “outperform” rating to a “neutral” rating and set a $40.00 target price for the company. in a report on Wednesday, March 29th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Interpublic Group of Companies has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Interpublic Group of Companies Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

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