Hartford Investment Management Co. lowered its position in The Interpublic Group of Companies, Inc. (NYSE: IPG – Get Rating) by 7.1% in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission. The company held 37,316 shares of the business services provider after selling 2,857 shares during the quarter. Hartford Investment Management Co.’s holdings in Interpublic Group of Companies were worth $1,323,000 when it last filed with the SEC.
Several other hedge funds have also recently changed their positions in IPG. State Street Corp raised its position in shares of Interpublic Group of Companies by 4.3% in the fourth quarter. State Street Corp now owns 21,776,352 shares of the business services provider worth $815,524,000 after acquiring an additional 899,103 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Interpublic Group of Companies in Q4 for a value of approximately $29,990,000. Brown Advisory Inc. increased its holdings of Interpublic Group of Companies stock by 2,563.3% in the 4th quarter. Brown Advisory Inc. now owns 806,573 shares of the business services provider worth $30,205,000 after buying an additional 776,288 shares last quarter. Black Creek Investment Management Inc. increased its holdings of Interpublic Group of Companies stock by 7.0% in the fourth quarter. Black Creek Investment Management Inc. now owns 11,803,144 shares of the business services provider worth $442,028,000 after buying an additional 775,502 shares last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Interpublic Group of Companies by 185.6% in the 1st quarter. Pacer Advisors Inc. now owns 1,084,865 shares of the business services provider worth $38,458,000 after buying an additional 705,043 shares in the last quarter. Institutional investors hold 99.68% of the company’s shares.
IPG has been the subject of a number of recent research reports. Morgan Stanley lowered its price target on Interpublic Group of Companies from $40.00 to $35.00 and set an “equal weight” rating for the company in a Friday, June 10 report. StockNews.com launched coverage on Interpublic Group of Companies in a Thursday, March 31 report. They issued a “maintaining” rating for the company. Argus upgraded Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a target price of $41.00 for the company in a Monday, March 21 report. Barclays downgraded Interpublic Group of Companies from an “overweight” rating to an “equal weight” rating and lowered its price target for the company from $47.00 to $42.00 in a Monday, March 14 report. Finally, Macquarie upgraded Interpublic Group of Companies from an “outperforming” rating to a “neutral” rating in a Thursday, June 23 report. One investment analyst gave the stock a sell rating, six gave the company a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.44.
NYSE IPG opened at $27.81 on Tuesday. The stock has a 50-day moving average of $30.50 and a 200-day moving average of $34.04. The stock has a market capitalization of $10.95 billion, a P/E ratio of 10.86, a growth price/earnings ratio of 2.34 and a beta of 1.03. The Interpublic Group of Companies, Inc. has a 52-week low of $26.43 and a 52-week high of $39.98. The company has a debt ratio of 0.82, a quick ratio of 1.04 and a current ratio of 1.04.
Interpublic Group of Companies (NYSE:IPG – Get Rating) last released its results on Thursday, April 28. The business services provider reported EPS of $0.47 for the quarter, beating the consensus estimate of $0.40 by $0.07. The company posted revenue of $2.23 billion in the quarter, versus $2.17 billion expected by analysts. Interpublic Group of Companies achieved a return on equity of 31.10% and a net margin of 9.67%. The company’s revenue for the quarter increased 9.8% year over year. During the same period last year, the company achieved EPS of $0.45. Equity research analysts expect The Interpublic Group of Companies, Inc. to post earnings per share of 2.71 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 21. Shareholders of record on Monday, June 6 received a dividend of $0.29. The ex-dividend date was Friday, June 3. This represents an annualized dividend of $1.16 and a dividend yield of 4.17%. The Interpublic Group of Companies’ dividend payout ratio (DPR) is currently 45.31%.
Separately, director Dawn E. Hudson sold 18,376 shares of Interpublic Group of Companies in a transaction on Monday, May 9. The stock was sold at an average price of $32.45, for a total transaction of $596,301.20. Following the completion of the sale, the director now directly owns 32,880 shares of the company, valued at $1,066,956. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, director Jocelyn Carter-Miller purchased 6,764 shares of the company in a trade on Friday, April 29. The stock was purchased at an average price of $33.26 per share, for a total transaction of $224,970.64. Following the purchase, the administrator now directly owns 44,714 shares of the company, valued at approximately $1,487,187.64. Disclosure of this purchase can be found here. 0.33% of the shares are currently held by insiders of the company.
About the Interpublic group of companies (Get a rating)
The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The Company offers consumer advertising, digital marketing, communications planning and media buying, public relations and specialty communications, and data science services.
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