Todd Asset Management LLC Purchases Shares of 924,394 Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

Key Points

• Todd Asset Management LLC acquired 924,394 shares of Interpublic Group of Companies, valued at approximately $25.1 million, representing about 0.25% ownership as of the latest reporting period.
• The company reported a quarterly earnings per share (EPS) of $0.75, exceeding analysts' expectations of $0.55, while its revenue for the quarter was $2.17 billion, slightly above forecasts.
• Interpublic Group declared a quarterly dividend of $0.33 per share, with a yield of 5.3% and a payout ratio of 111.86%, highlighting its ongoing commitment to returning value to shareholders.

Todd Asset Management LLC purchased a new position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 924,394 shares of the business services provider's stock, valued at approximately $25,107,000. Todd Asset Management LLC owned 0.25% of Interpublic Group of Companies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. CCM Investment Group LLC purchased a new stake in Interpublic Group of Companies in the first quarter worth $907,000. Nuveen LLC bought a new position in shares of Interpublic Group of Companies in the first quarter worth about $31,781,000. Berger Financial Group Inc increased its stake in Interpublic Group of Companies by 26.0% in the 1st quarter. Berger Financial Group Inc now owns 197,251 shares of the business services provider's stock worth $5,357,000 after buying an additional 40,667 shares during the period. Benjamin Edwards Inc. lifted its holdings in Interpublic Group of Companies by 48.4% during the 1st quarter. Benjamin Edwards Inc. now owns 191,868 shares of the business services provider's stock valued at $5,211,000 after buying an additional 62,610 shares in the last quarter. Finally, Covestor Ltd boosted its position in Interpublic Group of Companies by 12.5% in the 1st quarter. Covestor Ltd now owns 9,469 shares of the business services provider's stock valued at $258,000 after buying an additional 1,054 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IPG shares. UBS Group reduced their target price on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Barclays downgraded Interpublic Group of Companies from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $34.00 to $27.50 in a report on Wednesday, June 25th. Wall Street Zen started coverage on Interpublic Group of Companies in a report on Tuesday, May 20th. They issued a "hold" rating for the company. Finally, 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 report on Thursday, July 10th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.39.

Interpublic Group of Companies Stock Down 1.3%

IPG stock traded down $0.34 during trading on Thursday, reaching $25.86. 5,128,789 shares of the company traded hands, compared to its average volume of 6,958,929. The business has a 50 day simple moving average of $24.56 and a 200 day simple moving average of $25.42. Interpublic Group of Companies, Inc. has a 12 month low of $22.51 and a 12 month 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. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 21.91 and a beta of 1.05.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.20. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The business's revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts anticipate that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Interpublic Group of Companies's payout ratio is currently 111.86%.

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.