The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Purchased by Citigroup Inc.

Citigroup Inc. boosted its holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 34.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 303,956 shares of the business services provider’s stock after buying an additional 77,506 shares during the quarter. Citigroup Inc. owned 0.08% of Interpublic Group of Companies worth $11,319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guggenheim Capital LLC boosted its stake in Interpublic Group of Companies by 40.5% in the 1st quarter. Guggenheim Capital LLC now owns 288,836 shares of the business services provider’s stock worth $10,756,000 after purchasing an additional 83,267 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in Interpublic Group of Companies by 33.8% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 90,160 shares of the business services provider’s stock worth $3,358,000 after purchasing an additional 22,770 shares during the period. Atria Investments Inc acquired a new position in Interpublic Group of Companies in the 1st quarter worth approximately $1,525,000. B. Metzler seel. Sohn & Co. AG boosted its stake in Interpublic Group of Companies by 328.8% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 97,941 shares of the business services provider’s stock worth $3,647,000 after purchasing an additional 75,099 shares during the period. Finally, AMG National Trust Bank boosted its stake in shares of Interpublic Group of Companies by 9.1% during the 1st quarter. AMG National Trust Bank now owns 37,556 shares of the business services provider’s stock valued at $1,399,000 after buying an additional 3,126 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the subject of a number of research reports. Morgan Stanley decreased their target price on shares of Interpublic Group of Companies from $42.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, July 24th. Citigroup decreased their target price on shares of Interpublic Group of Companies from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, July 24th. StockNews.com initiated coverage on shares of Interpublic Group of Companies in a research note on Wednesday, August 23rd. They set a “hold” rating for the company. Bank of America decreased their target price on shares of Interpublic Group of Companies from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, July 24th. Finally, Wells Fargo & Company lowered shares of Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $43.00 to $33.00 in a research note on Monday, July 24th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.00.

Interpublic Group of Companies Stock Up 0.9 %

IPG stock opened at $32.83 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.78. The Interpublic Group of Companies, Inc. has a 1 year low of $25.14 and a 1 year high of $40.95. The company has a fifty day simple moving average of $35.53 and a 200 day simple moving average of $36.37. The firm has a market cap of $12.64 billion, a PE ratio of 13.62, a PEG ratio of 1.52 and a beta of 1.10.

Interpublic Group of Companies (NYSE:IPG) last announced its earnings results on Friday, July 21st. The business services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.61 by $0.13. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.39 billion. Interpublic Group of Companies had a net margin of 8.70% and a return on equity of 29.72%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. Sell-side analysts anticipate that The Interpublic Group of Companies, Inc. will post 3.05 EPS for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.31 dividend. The ex-dividend date is Thursday, August 31st. This represents a $1.24 annualized dividend and a yield of 3.78%. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 51.45%.

About Interpublic Group of Companies

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.