33,000 Shares in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Purchased by Tabor Asset Management LP

Tabor Asset Management LP purchased a new stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 33,000 shares of the business services provider's stock, valued at approximately $896,000.

A number of other hedge funds also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. raised its position in shares of Interpublic Group of Companies by 110.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 34,862 shares of the business services provider's stock worth $977,000 after acquiring an additional 18,323 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter worth about $1,496,000. Xponance Inc. raised its position in shares of Interpublic Group of Companies by 1.0% during the 4th quarter. Xponance Inc. now owns 59,844 shares of the business services provider's stock worth $1,677,000 after acquiring an additional 587 shares in the last quarter. Stokes Family Office LLC acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter worth about $255,000. Finally, Magnetar Financial LLC raised its position in shares of Interpublic Group of Companies by 12,548.6% during the 4th quarter. Magnetar Financial LLC now owns 2,425,247 shares of the business services provider's stock worth $67,955,000 after acquiring an additional 2,406,073 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IPG. JPMorgan Chase & Co. dropped their price target on Interpublic Group of Companies from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Citigroup reiterated a "buy" rating and issued a $35.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. Wall Street Zen assumed coverage on Interpublic Group of Companies in a research note on Tuesday, May 20th. They issued a "hold" rating on the stock. Finally, Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $34.00 to $27.50 in a research note on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $32.06.

Interpublic Group of Companies Price Performance

Shares of NYSE IPG traded up $0.12 during trading on Friday, reaching $24.25. The company had a trading volume of 1,658,707 shares, compared to its average volume of 5,977,280. Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The stock has a market capitalization of $8.96 billion, a PE ratio of 18.53 and a beta of 1.05. The stock has a 50-day moving average price of $24.30 and a two-hundred day moving average price of $25.77. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.21% and a net margin of 4.69%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business's revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, sell-side analysts predict 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 was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.33 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.44%. Interpublic Group of Companies's dividend payout ratio (DPR) is 100.76%.

Interpublic Group of Companies 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.

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