Cyndeo Wealth Partners LLC Purchases Shares of 6,879 The Interpublic Group of Companies, Inc. (NYSE:IPG)

Cyndeo Wealth Partners LLC acquired a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,879 shares of the business services provider’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James & Associates boosted its stake in Interpublic Group of Companies by 2.0% in the 3rd quarter. Raymond James & Associates now owns 1,620,392 shares of the business services provider’s stock worth $51,253,000 after purchasing an additional 32,053 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Interpublic Group of Companies by 2.9% during the third quarter. First Citizens Bank & Trust Co. now owns 16,633 shares of the business services provider’s stock worth $526,000 after buying an additional 465 shares during the period. Capital Investment Advisors LLC bought a new position in shares of Interpublic Group of Companies during the third quarter worth about $224,000. Stratos Wealth Advisors LLC raised its position in Interpublic Group of Companies by 22.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 50,141 shares of the business services provider’s stock valued at $1,586,000 after buying an additional 9,210 shares during the last quarter. Finally, OmniStar Financial Group Inc. lifted its stake in Interpublic Group of Companies by 12.0% in the 3rd quarter. OmniStar Financial Group Inc. now owns 25,547 shares of the business services provider’s stock valued at $808,000 after acquiring an additional 2,738 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a report on Monday, September 30th. Macquarie cut their price target on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. UBS Group downgraded Interpublic Group of Companies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $34.00 to $29.00 in a research report on Thursday, September 12th. Bank of America reduced their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $34.00 to $28.00 in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.44.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG opened at $31.60 on Tuesday. The Interpublic Group of Companies, Inc. has a 12 month low of $27.53 and a 12 month high of $35.17. The stock has a 50 day moving average of $31.41 and a 200-day moving average of $30.76. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $11.93 billion, a P/E ratio of 11.25, a P/E/G ratio of 5.18 and a beta of 1.09.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.83 EPS for the current year.

Interpublic Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.32 annualized dividend and a yield of 4.18%. Interpublic Group of Companies’s dividend payout ratio is currently 46.98%.

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.