CX Institutional Takes $179,000 Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

CX Institutional bought a new stake in The Interpublic Group of Companies, Inc. (NYSE:IPG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,590 shares of the business services provider’s stock, valued at approximately $179,000.

Several other hedge funds also recently modified their holdings of IPG. Canada Pension Plan Investment Board raised its position in shares of Interpublic Group of Companies by 139.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 13,210,446 shares of the business services provider’s stock valued at $370,157,000 after acquiring an additional 7,693,636 shares during the period. First Trust Advisors LP lifted its stake in Interpublic Group of Companies by 13.0% in the fourth quarter. First Trust Advisors LP now owns 12,975,872 shares of the business services provider’s stock valued at $363,584,000 after buying an additional 1,492,019 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Interpublic Group of Companies by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,938,530 shares of the business services provider’s stock valued at $362,538,000 after buying an additional 511,607 shares in the last quarter. Invesco Ltd. lifted its stake in Interpublic Group of Companies by 14.8% in the fourth quarter. Invesco Ltd. now owns 10,264,732 shares of the business services provider’s stock valued at $287,618,000 after buying an additional 1,320,345 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Interpublic Group of Companies by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 9,531,530 shares of the business services provider’s stock valued at $266,614,000 after buying an additional 81,996 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

IPG has been the topic of a number of recent research reports. Barclays lowered 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 report on Friday, April 25th. Citigroup restated a “buy” rating and set a $35.00 target price on shares of Interpublic Group of Companies in a report on Tuesday, April 15th. Wall Street Zen started coverage on shares of Interpublic Group of Companies in a report on Tuesday, May 20th. They set a “hold” rating on the stock. Finally, Argus downgraded shares of Interpublic Group of Companies from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.44.

Interpublic Group of Companies Price Performance

NYSE:IPG opened at $22.97 on Monday. The Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The company has a market cap of $8.49 billion, a P/E ratio of 12.55 and a beta of 1.06. The firm’s fifty day moving average price is $24.35 and its two-hundred day moving average price is $26.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 1.09.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Interpublic Group of Companies had a net margin of 6.45% and a return on equity of 27.10%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the company earned $0.36 earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. Equities analysts expect that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.75%. Interpublic Group of Companies’s dividend payout ratio is currently 100.76%.

Interpublic Group of Companies Company 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.