LifeWealth Investments LLC Makes New $280,000 Investment in Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

LifeWealth Investments LLC bought a new stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) in the 1st quarter, HoldingsChannel reports. The fund bought 10,309 shares of the business services provider’s stock, valued at approximately $280,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. boosted its position in Interpublic Group of Companies by 3.0% during the 4th quarter. Assetmark Inc. now owns 42,496 shares of the business services provider’s stock valued at $1,191,000 after purchasing an additional 1,238 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Interpublic Group of Companies by 69.5% during the fourth quarter. Jones Financial Companies Lllp now owns 7,294 shares of the business services provider’s stock valued at $204,000 after acquiring an additional 2,991 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Interpublic Group of Companies during the fourth quarter valued at $2,325,000. Allworth Financial LP grew its position in shares of Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after acquiring an additional 480 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Interpublic Group of Companies by 0.9% in the 4th quarter. LPL Financial LLC now owns 465,454 shares of the business services provider’s stock worth $13,042,000 after acquiring an additional 4,177 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays cut their price objective on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Wall Street Zen assumed coverage on Interpublic Group of Companies in a report on Tuesday, May 20th. They set a “hold” rating on the stock. Finally, Citigroup reiterated a “buy” rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.44.

Interpublic Group of Companies Stock Up 0.3%

IPG stock opened at $23.09 on Thursday. The firm’s 50-day moving average is $24.29 and its two-hundred day moving average is $26.43. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 17.63 and a beta of 1.06. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week 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 0.80.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.33 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.72%. Interpublic Group of Companies’s dividend payout ratio (DPR) is 100.76%.

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.