Several institutional investors recently changed their holdings in IPG. UMB Bank increased their stake by 3.5%, now holding 9,607 shares worth $313,000. Similarly, Legacy Wealth Asset Management boosted its holdings by 3.3% for a total of 10,923 shares valued at $356,000. Richardson Financial Services raised its position by 8.4%, owning 4,530 shares worth $148,000. Benjamin Edwards dramatically increased their stake by 73.8%, now holding 883 shares worth $26,000. Farther Finance Advisors also increased their holdings by 2.2%, totaling 17,584 shares worth $494,000. Overall, 98.43% of IPG stock is owned by institutional investors.
Interpublic Group of Companies Stock Down 0.5%
Shares of NYSE: IPG opened at $31.07. The company has a debt-to-equity ratio of 0.75 and a market cap of $11.73 billion. Its stock has ranged from $27.20 to $35.17 over the past year, with moving averages of $31.24 (50-day) and $30.88 (200-day).
IPG reported earnings on July 24, with earnings per share (EPS) of $0.61, beating estimates of $0.59. Revenue was $2.71 billion, exceeding expectations of $2.33 billion. The company forecasts an EPS of 2.82 for the current year.
Interpublic Group of Companies Dividend Announcement
IPG announced a quarterly dividend of $0.33, paid on September 17 to shareholders who recorded on September 3, representing a 4.25% yield.
Wall Street Analyst Weigh In
Recent reports show varying opinions on IPG. Macquarie lowered its price target from $33 to $31. Morgan Stanley downgraded the stock and set a target of $28. Barclays reduced its target to $32.50, and BNP Paribas cut its rating to “underperform.” Currently, three analysts rate it as sell, five as hold, and two as buy, with an average target price of $32.44.
Read Our Latest Analysis on IPG
Interpublic Group of Companies Profile
IPG provides global advertising and marketing services across three segments, including media, data solutions, and integrated advertising.
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