True Wealth Design LLC Grows Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

True Wealth Design LLC grew its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 24,142 shares of the business services provider’s stock after purchasing an additional 1,706 shares during the quarter. True Wealth Design LLC’s holdings in Interpublic Group of Companies were worth $788,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Interpublic Group of Companies by 85.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 229,511 shares of the business services provider’s stock valued at $7,491,000 after purchasing an additional 105,858 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Interpublic Group of Companies by 54.3% in the fourth quarter. BNP Paribas Financial Markets now owns 860,103 shares of the business services provider’s stock valued at $28,074,000 after buying an additional 302,664 shares in the last quarter. Cowen AND Company LLC purchased a new stake in shares of Interpublic Group of Companies during the 4th quarter valued at about $871,000. Norges Bank acquired a new position in Interpublic Group of Companies during the 4th quarter worth approximately $32,620,000. Finally, Kingsview Wealth Management LLC purchased a new position in Interpublic Group of Companies in the 4th quarter worth approximately $3,291,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 0.6 %

IPG stock traded down $0.17 during midday trading on Tuesday, hitting $30.28. 2,740,159 shares of the company’s stock were exchanged, compared to its average volume of 3,734,656. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 2.81 and a beta of 1.13. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average price of $31.14 and a 200-day moving average price of $31.85. The Interpublic Group of Companies, Inc. has a 12-month low of $27.20 and a 12-month high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Interpublic Group of Companies had a net margin of 9.97% and a return on equity of 29.70%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. On average, analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.8 EPS for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.36%. Interpublic Group of Companies’s payout ratio is 46.98%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their price objective on shares of Interpublic Group of Companies from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Interpublic Group of Companies has an average rating of “Hold” and an average price target of $35.13.

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.