Swedbank AB grew its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG – Free Report) by 10.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 680,466 shares of the business services provider’s stock after buying an additional 64,983 shares during the period. Swedbank AB owned 0.18% of Interpublic Group of Companies worth $18,481,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brooklyn Investment Group raised its holdings in Interpublic Group of Companies by 20.0% during the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock worth $64,000 after purchasing an additional 391 shares in the last quarter. Penserra Capital Management LLC increased its holdings in Interpublic Group of Companies by 3.8% in the first quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider’s stock valued at $410,000 after buying an additional 552 shares in the last quarter. Diversified Trust Co increased its holdings in Interpublic Group of Companies by 0.5% in the first quarter. Diversified Trust Co now owns 119,908 shares of the business services provider’s stock valued at $3,257,000 after buying an additional 572 shares in the last quarter. Palouse Capital Management Inc. increased its holdings in Interpublic Group of Companies by 1.1% in the first quarter. Palouse Capital Management Inc. now owns 54,763 shares of the business services provider’s stock valued at $1,487,000 after buying an additional 574 shares in the last quarter. Finally, Y.D. More Investments Ltd increased its holdings in Interpublic Group of Companies by 14.5% in the first quarter. Y.D. More Investments Ltd now owns 4,579 shares of the business services provider’s stock valued at $124,000 after buying an additional 579 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Wall Street Zen raised shares of Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Barclays cut shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $34.00 to $27.50 in a research note on Wednesday, June 25th. Finally, UBS Group dropped their price objective on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.01.
Read Our Latest Stock Analysis on Interpublic Group of Companies
Interpublic Group of Companies Stock Down 1.1%
Shares of NYSE IPG opened at $26.40 on Monday. The firm has a market cap of $9.67 billion, a P/E ratio of 22.37 and a beta of 1.09. The firm’s 50 day moving average price is $25.73 and its 200 day moving average price is $25.20. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07.
Interpublic Group of Companies (NYSE:IPG – Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.20. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. Interpublic Group of Companies’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.61 EPS. As a group, sell-side analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.
Interpublic Group of Companies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, September 2nd. Interpublic Group of Companies’s dividend payout ratio (DPR) is 111.86%.
About Interpublic Group of Companies
(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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